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Nigerians to pay more for cigarettes, alcohol from today

The recently approved excise duty for alcoholic beverages and tobacco will take effect on Monday, June 4.

President Muhammadu Buhari had approved the amendment to the excise duty rates in March.

The amendment came after TheCable had reported that Kemi Adeosun, minister of finance, had written to the president seeking approval for the excise review.

Adeosun had said the reviews would be from 2018 to 2020 and was to raise the government’s fiscal revenues.

She also said it would reduce the health hazards associated with tobacco-related diseases and alcohol abuse.

The minister had said under the new rates for tobacco, in addition to the 20 percent ad-valorem rate, each stick of cigarette will attract one naira specific rate.

She said by 2019, tobacco will attract two naira specific rate per stick while it will attract N2.90 kobo specific rate per stick by 2020.

Under the review, beer and stout will attract 0.30k per centilitre (Cl) in 2018 and 0.35k per Cl each in 2019 and 2020.

Wines will attract N1.25k per Cl in 2018 and N1.50k per Cl each in 2019 and 2020; while N1.50k per Cl was approved for spirits in 2018, N1.75k per Cl in 2019 and N2 per Cl in 2020.

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About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298, 08056381068.

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