Nigeria: President postpones enactment of alcohol taxes signed into law by outgoing president

On 06 July 2023, Nigeria’s president signed four executive orders postponing the enforcement of certain tax changes, including higher excise taxes on alcohol products, that the previous president had signed into law to take effect on 28 May 2033, the final day of his term. The commencement date of the tax changes has now been deferred from 28 May to 01 September 2023, because the legislation did not provide the minimum notice period of 90 days required by law.  “Total specific” tax rates for alcohol beverages have reportedly grown by 114.3% since 2022.