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Nigeria can earn N600bn from tobacco, alcohol tax hike – W'Bank


Punch Newspapers
Sections
Amarachi Orjiude and Sami Olatunji, Abuja
Published 25 June 2021
Amarachi Orjiude and Sami Olatunji, Abuja
Published 25 June 2021
The World Bank has said Nigeria can generate N600bn annually by increasing the excise duties on tobacco and alcohol as recommended in the National Development Update report.
A Senior Tax Specialist of the bank, Rajul Awasthi, said this on Thursday at a virtual discussion on domestic revenue mobilisation.
According to him, Nigeria has one of the lowest excise duty rates on tobacco and alcohol in Africa, and the duty rate on cigarettes is lower than the standard set by the Economic Community of West African States. ....

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