Economic Report

New tariff on alcohol will destroy lives – Patrick Anegbe

The Distillers and Blenders Association of Nigeria (DIBAN) says it rejects the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits. The Chairman of DIBAN, Chief Patrick Anegbe told newsmen on Wednesday in Lagos, that the hike was a threat to the N420 billion investment of the industry. Anegbe said that […]

Business

Nigeria imposed higher tariff on goods

The new excise duty for alcoholic beverages and cigarette earlier approved by President Muhammadu Buhari has taken effect, according to finance minister, Kemi Adeosun. This is sequel to the expiration of 90-day grace period earlier availed manufacturers of the products. Under the new rates for tobacco, each stick of cigarette will attract one naira specific […]