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Green tax will raise prices of goods, says NCIC

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The Nigeria Climate Innovation Centre, a global network of the World Bank’s Community Innovation Centres and a member of the Climate Bus Innovation Network, has said that the proposed 10 percent green tax on single-use plastics in Nigeria would affect production and consumption through increased pricing to consumers and households.
The centre in a statement on Monday explained that green taxation is a policy tool used by governments to promote sustainable behaviour by imposing taxes and fees on activities that pollute and degrade the environment.
It however, suggested that embracing circular economy principles could enhance economic resilience, reduce dependency on finite resources, and foster sustainable consumption and production patterns in the country.

Written by: bossgmsi

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