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This ruling stems from a case filed in 2022 by the Nigeria Employers’ Consultative Association (NECA), challenging the federal government’s introduction of a ₦10 per litre excise tax on non-alcoholic, carbonated, and sweetened beverages.
The exchange rate for a dollar to naira at LagosParallel Market (Black Market)players buy a dollar for N1600 and sell at N1610 on Monday 3rd February, 2025, according to sources atBureau De Change (BDC).
The tax, commonly referred to as a “sugar tax,” was intended to reduce the consumption of sugary drinks, which are linked to health issues such as diabetes, obesity, and other related conditions..
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