Why beer and cigar go cost well-well
Pipo wey dey shayo and smoke cigar go begin dey pay more money to buy dem as federal government don increase di tax on top alcohol drinks and Tobacco starting from June 4 2018.
Di new tax rates for alcoholic drink include Beer & Stout, Wines and Spirits for di three years. Di Minister of finance-Kemi Adeosun na im announce dis one for Abuja. She talk say dis new tax go spread over three-year period from 2018 to 2020 so dat pipo no go too feel am as di price increase. For 2018, under dis new tax rate for Tobacco each stick of cigar go get N1 tax which mean say pack of 20 stick of cigar go come get N20 tax on top am. For 2019, di tax go be N2 for each stick, then pack of 20 stick of cigar go get like N40 tax on top am. For 2020, di tax on top one stick of cigar go be N2.90k, then pack of 20 stick of cigar go get like N58 tax on top am. For 2019, di tax go be N2 for each stick, then pack of 20 stick of cigar go get like N40 tax on top am. Di new excise duty rates for alcoholic drink include Beer & Stout, Wines and Spirits for di three years. Beer and Stout go get N0.30k tax per centilitre for 2018 and N0.35k tax per centilitre each for 2019 and 2020. Wines go get N1.25k tax per centilitre for 2018 and N1.50k per centilitre each for 2019 and 2020, While spirit go get N1.50k tax per centilitre for 2018 , N1.75k tax per centilitre for 2019 and N2.00k per centilitre for 2020. Madam Adeosun explain say dis excise duty rates for alcoholic drink and tobacco go help increase government revenue and reduce di health danger wey tobacco and alcohol abuse dey cause.