More Nigerians may lose their jobs and some producers of carbonated drinks will likely close shop as a result of poor sale should the Federal Government implement its planned imposition of tax on soft drinks.
The Nigeria Employers Consultative Association, Lagos Chamber of Commerce and Industry and some economists gave this warning in separate reactions to the FG’s plan as revealed by the Minister of Finance, Budget and National Planning, Zainab Ahmed.
The minister spoke in Washington DC, United States Thursday on the sidelines of the 2019 annual meetings of the International Monetary Fund/ World Bank, adding that the tax as well as additional Value Added Tax on imported goods was meant to increase the government’s revenue generation.
It will kill businesses –NECA
NECA said the planned tax on non-alcoholic beverages by the Federal Government will kill many businesses in that sector.
Its Director-General, Timothy Olawale, specifically said the jobs of about 250,000 people working directly and indirectly in the industry would come under threat.
Source: Punch Newspaper
