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Customs Stops Tax Waivers For Coca-Cola, Pepsi, Firms, Soon
As Nigerian Customs Service makes higher projections in its revenue generation, producers of carbonated drinks in Nigeria may soon lose some comfort as the NCS and Senate seek cancellation of waivers on the companies’ excise duty.
The NCS, directly called for the termination of the tax waivers regime granted local companies producing soft drinks in the country by federal government.
Comptroller General of Customs, Colonel Hameed Ali (rtd), made the call yesterday at the Senate Joint Committee on Finance, and National Planning on the projection of the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF/FSP
He said doing so would boost revenue generation since tariff collection on import would drop in 2021 and beyond due to the trade agreement between Nigeria and neighbouring countries.
Specifically, the Custom’s boss wondered why companies like Coca-Cola, Pepsi, Biggi and other non-alcoholic beverage firms were not paying taxes in Nigeria when they do in other countries where they have operations.
According to him, the defunct Interim National Government of Ernest Shonekan, granted the waivers to the carbonated drinks manufacturers in 1993 to encourage local firms.
He, however, said the policy should no longer be sustained in view of the current economic reality occasioned by the nations dwindling revenue.
His words ”We have been pushing for the expansion of our own excise collection. During the Shonekan regime, excise was stopped for carbonated drinks manufacturers like Coca-Cola.
Nneka Amaechi-Nnadi, Abuja
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
