Nigeria targets N250.09bn from excise duty in 2023

The Nigerian Government says it plans to raise N250.09bn from excise duty this year, the 2023 fiscal framework document has shown.

According to the document, the Federal Government targeted N98.53bn from excise duty in 2021 and N161.7bn in 2022.

This shows that the government revenue target from excise duty rose by 153.82 percent in two years and 54.66 percent in one year.

The Federal Government plans to introduce more sin taxes and cut down on tax incentives in 2023 through the proposed 2022 Finance Bill.

Punch/Hauwa Abu