In accordance with the directive of ECOWAS council of ministers, the Federal Government (FG) will re-introduce excise duty on some goods manufactured in the country and excisable imported goods. Excise duty is a type of tax paid on goods manufactured in a country. It differs from custom duties, which is paid on imported goods. The Ministry of Finance announced that some products like spaghetti and noodles would be exempted from the excise duty.
The minister recommended that all excisable products removed from the excise list on the Nigeria Customs Service website in 2009 be returned. According to a list, excisable goods include perfumes, cosmetics, non-alcoholic beverages, fruit juice, soap and detergent, telephone recharge cards, corrugated paper or paper board and toilet paper. For these products, the excise duty is 5%.
