FG Earned Over N68 Billion In 6 Months From Beer, Other Alcoholic Beverages

FG Earned Over N68 Billion In 6 Months From Beer, Other Alcoholic Beverages, details can be accessed below.

The Federal Government, through the Nigeria Customs Service (NCS) collected over N68 billion between January and June, from excise duty on beer, spirits and other alcoholic beverages, cigarettes, and tobacco.

BrandNewsDay reports that the Nigeria Customs Service made this disclosure through the Minister of Finance, Budget and National Planning, Zainab Ahmed that the service generated N68 billion between January to June 2022.

This online news platform reports that the excise duty is levied on the manufacture, sale and consumption of goods that fall under the excise control, which include but are not limited to beer, spirits, alcoholic beverages, tobacco and cigarettes, which are collected across the country.

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The Service has also said it would soon begin the collection of the new tariff on calls and data recently announced by the Minister of Finance, Budget and National Planning, Zainab Ahmed.

The NCS collected revenue of N1.3trillion into the Federation Account, covering import and excise duty, fees and levies. This represents an increase of N289.4billion or a 28.83 per cent growth rate compared to the N1.003trillion collected in the same period last year.

While presenting the half-year report of the service covering January-June, this year, National Public Relations Officer of the service, Deputy Comptroller Timi Bomodi, also said Customs had commenced collections from traders producing carbonated and sugary drinks, which was newly added under schedule five of the Common External Tariff (CET).