CPPE Expresses Concern Over Proposed Tax Hike on Non-Alcoholic Beverages in Nigeria

The Centre for Promoting Private Enterprise (CPPE) in Nigeria has raised concerns over the renewed call for increased taxation on sugar-sweetened non-alcoholic beverages. Dr. Muda Yusuf, the Chief Executive Officer of CPPE, highlighted the potential detrimental effects of such a tax on the Nigerian manufacturing sector, especially during the delicate economic recovery phase.

The CPPE argues that additional fiscal pressures, such as sugar taxation, could hinder industrial growth and job creation, emphasizing the need for a balanced and holistic approach to policymaking that considers both public health objectives and economic development.