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DAILY BUSINESS NEWS BRIEF – Excise duty: Manufacturers to raise alcoholic beverage prices by 15%



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Excise duty: Manufacturers to raise alcoholic beverage prices by 15%
Following the implementation of a new excise duty regime on alcoholic beverages and tobacco products from Monday, June 1, 2018 by the Minister of Finance, Mrs. Kemi Adeosun, sales of the affected products have already slowed down as the manufacturers work on a new pricing structure.Our correspondent gathered that the increase in prices would take effect immediately just as the new tariff structure.According to him, whereas a crate of wine from his firm is currently N3,000, with the new tariff, it will now sell for N3,500.Read More…]

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