The Nigerian Senate has approved a new excise duty regime that is set to impact the pricing of soft drinks and other sugar-sweetened beverages. This new plan replaces the existing flat-rate tax with a percentage-based levy that is linked to the retail prices of these products. As a result, consumers may experience an increase in the prices of sugary drinks as manufacturers adjust to the new taxation structure. The implementation of this tax is part of broader efforts to regulate the consumption of sugary beverages in the country.
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