The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has disclosed that the Federal Government is considering a temporary suspension of the N10 tax on Sweetened Sugar Beverages (SSBs) as part of its economic stabilisation plan.
The minister who made the disclosure yesterday, when he met with members of the National Action on Sugar Reduction (NASR) stated that the suspension is intended as a temporary relief, with plans to reintroduce the tax once the economy stabilises.
Edu compared the arguments against the SSB tax to those made in the past against tobacco taxation, highlighting the importance of data-driven analysis in shaping public policy.
He stated that while the government does not support companies selling unhealthy products, it recognises the need to support businesses and help people cope with the current cost of living.
He also emphasised the role of the Presidential Economic Coordination Council in this decision, acknowledging the necessity of government revenue and the need to offer relief amid economic challenges.
