Why prices of carbonated drinks are increasing in Nigeria

Since June 1, 2022, retail prices of carbonated drinks, especially those being sold in pet bottles, have spiked by 33 per cent. Thanks to the re-introduced tax on non-alcoholic, carbonated and sweetened beverages. The policy levies N10 excise duty sweetened beverages. The tax, recently included in the Finance Act 2021, drew opposition from the Manufacturers […]

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