By Niyi Jacobs
Nigeria has been ranked fourth globally in Sugar Sweetened Beverage (SSB) consumption, with an alarming 38.6 million liters sold annually. This has led to an upward trend in deaths linked to SSB consumption in the country.
Experts are now calling for the introduction of a SSB tax to correct market failure, address information asymmetry, and trigger behavioral change among consumers and industry players.
The proposed tax aims to increase fiscal revenue and reduce the health burden associated with SSB consumption. With consumers becoming increasingly worse off due to the negative effects of SSBs, experts believe that a tax is necessary to correct this market failure.
Furthermore, the tax is expected to raise public awareness of the negative effects of SSB consumption and encourage individuals and industries to make healthier choices.
As the debate on SSB taxation continues, one thing is clear: Nigeria’s high SSB consumption rate is a ticking time bomb for public health, and urgent action is needed to address this growing concern.
