The beverage sector in Nigeria is experiencing slower growth due to high tax burdens. This is in addition to the systemic challenges manufacturers face in the current economic environment, including rising inflation rates, forex volatility and declining demands. With many of the companies in the sector already recording huge losses, there is an imminent threat that increased pressures could lead …

Stakeholders across the organised private sector in Nigeria have raised concerns over proposals to increase the Sugar-Sweetened Beverage (SSB) tax, citing significant setbacks that will grossly impact the already struggling sector. They argue that the proposals for a tax hike is contentious at best, considering Nigeria’s existing economic challenges. With soaring inflation rates, unemployment, public debt, and poverty rates, industry …