News - News Agency Of Nigeria

Sugar tax: Private sector stakeholders rally support for food, beverage industry (Page 1,957)

By Rukayat Moisemhe

Stakeholders in the food and beverage industry have urged the Federal Government to disregard any campaign aimed at increasing current Sugar-Sweetened (SSB) tax from N10 per litre to N30 per litre.

Mr Segun Ajayi-Kadir, the Director-General, Manufacturers Association of Nigeria (MAN), via a statement on Wednesday in Lagos, said any move to increase sugar tax would strain the already overwhelmed manufacturing sector.

Ajayi-Kadir noted that the current campaign led by the Corporate Accountability and Public Participation (CAPPA) Group was not in support of manufacturing growth, a critical engine of any country’s economy.

According to him, the manufacturing sector; particularly the food and beverage sub-sector remains crucial to every economy of the world and the realities in Nigeria shows its performance has grown in relevance and value.

He noted that over the years, many multinational companies had been forced to relocate their operations out of the country due to harsh and non-conducive operational environment that impeded ease of doing business.

Ajayi-Kadir said the fear being raised by industry watchers was that Nigeria may once more witnessed mass exodus of beverage industries for the nation’s business landscape if the Federal Government increase the SSB Tax.

This, he said, was because excessive taxation would lead to reduced economic activity in the industry, with the ultimate effect of causing a decline in its contribution to the nation’s Gross Domestic Product (GDP).

“Data from the World Trade Organisation shows that the food and beverage sector is estimated to contribute 22.5 per cent of the manufacturing industry value, generating an estimated 1.5 million jobs and 4.6 per cent of the country’s GDP.

“The food and beverage sector encompasses a wide range of businesses, including restaurants, cafes, food producers, and beverage manufacturers.

“Beyond its economic value, this industry forms the very fabric of our daily lives, shaping our culture and social interactions.

“Hence, the recent call for increase in Sugar Sweetened Beverage Tax from N10 per litre to N30 per litre poses a potential threat to the operations of this most important sector of the Nigerian economy,” he said.

The director-general averred that a balanced approach to taxation, taking into consideration the unique challenges of this sector, was essential to ensure its continued growth and contribution to the nation’s GDP.

He noted that striking the right balance between tax revenue generation and economic sustainability would be pivotal in preserving this vital economic pillar while fostering growth and innovation in the industry.

Ajayi-Kadir said the recent call for SSB Tax increase by CAPPA, hinging its argument on the claim that the consumption of sugary drinks as a known risk factor for ailments was deflated by health experts.

“Hence, the theory that increasing levies on sugar-sweetened beverages as the way out in mitigating communicable diseases like obesity and diabetes was unfounded.

“According to health experts, a balanced nutritional approach, which allows for the occasional indulgence in sugary beverages, can harmonise with a healthy lifestyle and dispel misconceptions about their influence on obesity and related health issues.

“Expert also stated that the surge in obesity cannot be solely ascribed to sugar; inactive lifestyles, lack of physical activity, and overall poor dietary choices play a significant role in the obesity epidemic.

“This recent call has become worrisome in view of the fact that the industry has in recent time been burdened with excessive taxes and continuous imposition of taxes has its implications that may likely affect the country negatively,” he said.(NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

Sugar tax: Private sector stakeholders rally support for food, beverage industry

By: Vivian Ihechu

On: November 16, 2023

In: Business, Health

With: 0 Comments

By Rukayat Moisemhe Stakeholders in the food and beverage industry have urged the Federal Government to disregard any campaign aimed at increasing current Sugar-Sweetened (SSB) tax from N10 per litre to N30 per litre. Mr Segun Ajayi-Kadir, the Director-General, Manufacturers Association of Nigeria (MAN), via a statement on WednesdayContinue Reading

Africa needs more researchers to tackle poverty, other challenges – Experts

By: Vivian Ihechu

On: November 16, 2023

In: Education

With: 0 Comments

By Grace Alegba Prof. Barnabas Nawangwe, Board Chairman, African Research Universities Alliance (ARUA) says the continent needs more researchers to tackle the issue of poverty and other challenges facing its people. Nawangwe, also the Vice Chancellor, Makerere University, Kampala, Uganda, stated this at the opening of the 4th InternationalContinue Reading

I-G urges police officers to be change agents

By: Vivian Ihechu

On: November 16, 2023

In: Judiciary

With: 0 Comments

By Moses Omorogieva The Inspector-General of Police (I-G), Mr Kayode Egbetokun, has enjoined the officers and men of the force to be agents of change in their respective positions. Egbetokun made the call on Wednesday in Lagos, while inaugurating the Mopol 2 Administrative Building named after him in IkoyiContinue Reading

Saheed Osupa, others bag Bachelor’s degrees at UI

By: isaac aregbesola

On: November 16, 2023

In: General News

With: 0 Comments

By Ibukun Emiola The University of Ibadan (UI) has awarded Bachelor’s Degree to a popular Fuji musician, Saheed Osupa and other students who satisfied its graduation criteria. The News Agency of Nigeria (NAN) reports that the second day of the 2023 Convocation Ceremony of the institution had 1,590 first degreeContinue Reading

ZLP tasks PWDs on active participation in politics

By: Philip Daniel Yatai

On: November 16, 2023

In: General News

With: 0 Comments

By Sarafina Christopher The Zenith Labour Party (ZLP) has appealed to Persons with Disabilities (PWDs) to participate actively in politics and governance in order to promote their rights. Mrs Chinyere Kalu, the National Women Leader ZLP, stated this in an interview with the news Agency of Nigeria (NAN), onContinue Reading

Why we suspended nationwide strike – Organised Labour

By: Philip Daniel Yatai

On: November 16, 2023

In: Metro

With: 0 Comments

By Joan Nwagwu The Organised Labour has explained why it suspended the nationwide indefinite strike that commenced on Nov. 14. Mr Emmanuel Ugboaja, General Secretary, Nigeria Labour Congress (NLC), explained the action in a statement he jointly signed by Mr Nuhu Toro, Secretary General, Trade Union Congress(TUC), on WednesdayContinue Reading

Forum seeks partnership with FG on coordination, implementation of Social Protection Policy

By: Philip Daniel Yatai

On: November 16, 2023

In: Metro

With: 0 Comments

By Ahmed Ubandoma The National Social Protection Forum (NSPF), has sought the partnership of the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, on the coordination and implementation of the revised National Social Protection Policy. Its National Coordinator, Dr Taiwo Benson, sought for the partnership when he led aContinue Reading

Lagos, EnterpriseNGR woo investors in London

By: Olawunmi Ashafa

On: November 16, 2023

In: General News, Metro

With: 0 Comments

L-R: Aigboje Aig-Imoukhuede CON, Chairman EnterpriseNGR; Micheal Mainelli, Lord Mayor of London; and Obi Ibekwe, Chief Executive Officer, EnterpriseNGR during a bilateral “InvestLagos” meeting in London, United Kingdom By Oluwafunke Ishola A policy and advocacy group, EnterpriseNGR, says Lagos State participation at the Lord Mayor’s Show will setContinue Reading

Poland to partner National Park Service on forestry

By: Muhyideen Jimoh

On: November 15, 2023

In: Environment

With: 0 Comments

By Abigael Joshua Members of the State Forestry Department of Poland say they are eager to partner with the National Park Service on forestry and its value-chain. The group communicated this during a courtesy visit on Dr Ibrahim Goni, Conservator-General, National Park Service, on Wednesday in Abuja. Adam Rek, whoContinue Reading

COP 28: Stakeholders strategise on reducing carbon emissions

By: Muhyideen Jimoh

On: November 15, 2023

In: Environment

With: 0 Comments

By Abigael Joshua Climate change stakeholders are strategising on how to address contemporary issues and reduce carbon emissions in Nigeria ahead of the forthcoming CoP 28. The stakeholders spoke on Wednesday in Abuja at Nigeria’s Long-term Low Emissions Development Strategy Stakeholders’ Workshop organised by the National Council on Climate ChangeContinue Reading

Follows Us

Sugar tax: Private sector stakeholders rally support for food, beverage industry (Page 1,957)