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Nigerians to buy vehicles, beer, cigarettes at high cost as FG increases taxes
Nigerians are set to experiences more hard life under the regime of President Buhari as federal government is in the process of revising excise duty on alcoholic beverages, cigarettes and tobacco products, according to a circular just signed by Finance Minister Zainab Ahmed.
It also plans to introduce a Green Tax made up of excise duty on Single Use Plastics (SUPs) and Import Adjustment Tax (IAT) levy on motor vehicles of 2000cc and above.
The Green Tax is said to be part of Nigeria’s commitment to climate change adaptation and mitigation to environment degradation.
The minister, in the April 20, 2023 circular entitled ‘Approval for the Implementation of the 2023 Fiscal Policy Measures and Tariff Amendments’ said non-alcoholic beverages, fruit juice, energy drink and aerated water will attract an excise duty of N10 per litre.
Excise duty for beer, stout and other alcoholic beverages not made from malt (whether fermented or not fermented) is N75 per litre in 2023 and will increase to N100 in 2024.
The same rate applies to wine (alcoholic) while whisky, brandy, vodka and rum will command an excise duty of N150 per litre in 2023 and N200 per litre in 2024
It is N8.20 per stick and N1500 per kilogramme or N3,500 per litre for cigarettes and tobacco products in 2023 and N2,000 per kg or N4,000 per litre in 2024.
Until now, government taxed imported alcoholic beverages using ad valorem rates; that is levying of tax or customs duties proportionate to the estimated value of the goods or transaction concerned. Now there is a specific rate, not an estimate.
The minister listed 189 items which will attract additional levy in line with the regulations of the Economic Community for West African States (ECOWAS) Common External Tariff (CET).
In this category are rice, margarine, Portland cement, raw cane sugar, malt extract, greases, brake fluid, salt, paper or paperboard labels of all kinds, notebooks, envelopes, diaries and similar products; woven fabrics of cotton, unglazed ceramic tiles, corrugated bars and rods.
The rest include aluminium plates, sheets and strips, electric generating sets and rotary converters of an output not exceeding 75kva, printers/printing machines, four wheel drive vehicles, used passenger motor vehicles of a cylinder capacity 1500cc but not exceeding 3000cc, parts and accessories of motor vehicles of 87.01 to 87.05.
The additional levy ranges between five and twenty percent.
The third schedule of fiscal policy measures and tariff amendments contains a list of items prohibited from importation into the country.
On the list are: used vehicles above 12 years from the year of manufacture, used compressors, used air conditioners, live or frozen poultry, pork, beef, cane or beet sugar, spaghetti, cocoa butter, fruit juice in retail packs, waters including mineral waters and aerated waters, bagged cement and mosquito repellant.
Similarly prohibited are medicament such as Paracetamol tablets/syrups, Cotrimozazole tablets/syrup, Metronidazole tablets/syrups, Chloroquine tablets/syrups, Haematinic formulations and Multivitamins tablets, capsules and syrups (except special formulations), ointments penicillin/gentamycin and intravenous fluids, soaps, detergents, and mineral or chemical fertilizers.
The Green Tax on Single Use Plastics (SUPs), including plastic containers, films and bags, is 10 percent.
An Import Adjustment Tax (IAT) levy has been introduced on motor vehicles of 2000 cc to 3999 cc at 2 per cent while 4000 cc and above will be taxed at 4 per cent.
Vehicles below 2000cc, mass transit buses, electric vehicles, and locally manufactured vehicles are exempted.
The circular has rested the matter over the imposition of five per cent excise duty on telecommunication services earlier introduced via the Finance Act 2020 and prescribed in the Official Gazette No. 88, Vol. 109 of 11 May 2022 approved by the President.
Going forward, the five per cent tax will now apply to mobile telephone services (GSM), fixed telephone and internet services, both postpaid and prepaid.
Under the Supplementary Protection Measures (SPM) as it relates to the implementation of the ECOWAS Common External Tariff 2022-2026, the circular stated that the changes are effective from 1 May 2023 subject to 90-days grace period for importers who had opened Form M before 1 May, 2023.
Items on the list include rice, woven fabrics, ceramics tiles and sinks, steel, containers for compressed or liquified gas, aluminum cans, washing machines, electric generating sets and rotary converters, smart phones, new and used passenger motor vehicles and electricity meters. The applicable duties for most of the items are unchanged from the 2022 FPM rates.
Michael Collins Ajereh, popularly known as Don Jazzy or Don Baba J, is a Nigerian record producer, singer, songwriter, entrepreneur and philanthropist.
Following the closure of Mo’ Hits record label, Don Jazzy set up Mavin Records. Here is everything you need to know about Don Jazzy’s bio and net worth.
Don Jazzy is the founder and CEO of Mavin Records, Nigeria’s largest music company that has generated hit songs for several of the country’s top singers.
Don Jazzy has produced several popular songs for a variety of musicians, including D’banj, Wande Coal, Tiwa Savage, and many more. He has received several accolades for his songs, including the Nigerian Entertainment Award for Song Producer of the Year.…click link for full details
President Bola Tinubu’s path to reelection is becoming increasingly challenging with each passing day.
The opposition is intensifying its efforts and developing comprehensive strategies aimed at unseating his government in the upcoming 2027 elections. With political tensions rising, the battle for power is shaping up to be fierce and closely contested. Click link to continue reading.
A civil society organisation, The Concerned Citizens of Nigeria (CCN), has petitioned US, UK to impose a travel ban and asset freeze on Zamfara Governor Dauda Lawal
Group accused Lawal of complicity, citing his own admissions of knowing bandits’ identities yet failing to act
CCN urged global action, asking the US, UK, EU, and Commonwealth to deny him entry, freeze assets, and send a strong message against leaders linked to terror.…click link for full details
News
“Muslims Are Not Slaves” – Pastor Can’t Appoint Oyo Chief Imam, MURIC Sends Strong Warning To Alaafin
The Muslim Rights Concern (MURIC) has rejected the claim by the Alaafin of Oyo, Akeem Owoade, that he has the exclusive right to appoint the Chief Imam of Oyo town.
MURIC’s founder and executive director, Ishaq Akintola, said on Wednesday that no law gives the monarch such power.
His words: “The Alaafin of Oyo, Oba Akeem Owoade claimed yesterday that he had the exclusive right to appoint the chief imam of Oyo town.
“The claim was contained in a statement issued by the Alaafin’s director of media and publicity, Bode Durojaiye, on Monday, September 15, 2025.
“We reject this statement. It is false, baseless and without any legal backing. What the Alaafin called his exclusive right is a baseless privilege now being abused by traditional rulers in Yorubaland. Alaafin is being economical with the truth.”
Akintola challenged the monarch to produce a legal instrument backing his claim, describing it as “illogical, irrational and laughable”.
“If he has the power to appoint the chief imam, does he also have the power to appoint the bishop of Oyo?” he asked.
He further stated: “Now, if he has no power to appoint the bishop, he cannot claim the power to appoint the chief imam. If he is relying on tradition, there is a difference between tradition and what the law says.
“By the way, what kind of tradition enslaves Muslims but gives Christians freedom. We reject a tradition that puts Muslims in chains. Muslims are not slaves.”
The MURIC director said Nigeria is a democracy and not a monarchy, warning the Alaafin to “respect himself and know his limits so that he can be adequately respected”.
He added that past practices cannot serve as justification.
“The tradition in the past was to trek to Makkah on foot. That has been abandoned. The incumbent Alaafin should stop clinging to a comatose practice,” he said.
Akintola argued that Owoade, being a pastor, has “no moral right to dictate who should lead the Muslims in Oyo”.
He said the Muslim community of Oyo should consult the Muslim Ummah of South West Nigeria (MUSWEN) before presenting a candidate for the role, stressing that the Alaafin’s blessing is “not mandatory”.
“To the Alaafin, Kabiyesi, your imperial majesty, you are the king over the whole of Oyo. You are king over the Muslims, the Christians and the traditionalists.
“Each group chooses its own leader. No law gives you exclusive right to choose the chief imam. Otherwise, show us evidence that you picked the Bishop. If you cannot pick the Bishop, how can you pick the imam? Stop impugning our dignity. Respect begets respect,” MURIC said.
The political situation in Nigeria is becoming more intense as accusations arise about who will be the new Chairman of the Independent National Electoral Commission (INEC) for the 2027 elections.
The current INEC Chairman, Mahmood Yakubu, will retire in less than 60 days after managing the presidential elections of 2023. Click link to continue reading.
Tinubu with Marafa
Since assuming office, Tinubu rolled out various policies, including the removal of fuel and electricity subsidies, unification of the forex policy, and naira devaluation, all of which were blamed for the food inflation and high cost of living in the country.
The criticisms come as Nigerians reflect on Tinubu’s performance in office. While the government maintains that its reforms are necessary for long-term recovery.
A former aide to ex-President Goodluck Jonathan, has declared that at least 10 miracles are happening under President Bola Tinubu.
One: For the first time in over a decade, Nigeria has overshot its OPEC quota for three consecutive months and is set to do the same for the fourth month, producing an average of 1.71 million Barrels Per Day.
Two: The Nigerian Stock Exchange rises above 130,000 All Share Index for the first time ever.
Three: Food prices have significantly reduced, resulting in a drop in inflation to 20.12% in August 2025, a 1.76% drop from July’s 21.88%.
Four: MTN Nigeria Limited hits a record valuation of ₦10 trillion, the first Nigerian company to do so.
Five: Oil theft has been reduced to less than 10,000 Barrels Per Day, a sixteen-year low.
Six: Nigeria achieved its revenue target for the entire year in August, a first in our history.
Seven: Foreign Reserves are above $41 billion.
Eight: After a record trade surplus last year, Nigeria appears set to beat our 2024 figure. Our trade surplus rose 44.3% in Q2 to ₦7.46 trillion, up from ₦5.17 trillion in Q1.
Nine: Dangote has crashed fuel price to ₦841.
Ten: The Naira has appreciated to ₦1497 to $1, a five-month high.
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