The Nigerian government is considering suspending its tax on sugary drinks to relieve pressure on manufacturers in the inflation-affected nation.
The tax, which was introduced two years ago at N10 ($0.0061) per litre on sweetened beverages, was implemented to address health concerns.
Reports from Nigeria suggest that Finance Minister Wale Edun informed a meeting of the National Action on Sugar Reduction (NASR) group about plans to suspend the tax temporarily to provide relief to beverage manufacturers.
Edun reportedly stated to NASR members, as cited by the Business Post media outlet, that this move is aimed at helping beverage companies navigate current economic challenges without risking closure.
He further explained that “the temporary suspension of the sugar tax is viewed as a measure to stabilize the economy and boost the beverage industry during this critical period.”
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