The Parliament Diary


Senate, Customs charge Coca-cola on revenue generation

Senate, Customs charge Coca-cola on revenue generation

The Nigerian Senate and the Customs service have agreed that excise must be paid on carbonated drinks in the Country.
Making this known at a Public hearing organized by the Senate Joint Committee on Finance and National Planning, the president of senate, Senator Ahmad Lawan stated that the Coca-cola Organization has businesses all over the world; hence it would be profitable for the country to monitor their progress as a company. Senator Lawan who was reacting to the statement credited to the comptroller general of NCS, Col. Hameed Ali (rtd) the said that carbonated drinks including Coca-Cola were not excised.
The comptroller general noted that the revenue projections by the service for 3 years spanning 2021-2023 are as follows: in 2021, all things being equal, we should be able to generate N1.465trillion. In 2022, we also expect to generate N1, 704trillion, then in 2023, we will be able to generate N1.758trillion.

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