Nigerian Government Exempts Liquefied Petroleum Gas from Customs Duty and VAT, Reducing Cooking Gas Costs

• Nigerian government exempts importation of liquefied petroleum gas (LPG) and its equipment from customs duty and value-added tax (VAT)
• Exemption expected to lower the cost of cooking gas in the country
• Ministry of finance issued a letter affirming the presidential directive and instructing compliance from Nigeria Customs Service (NCS) and Federal Inland Revenue Service (FIRS)
• Other items exempted from VAT and duty payment include LPG cylinders, gas leak detectors, steel pipes, LPG dispensers, etc.
• Decision made after consultations with stakeholders revealed lack of clear fiscal directive hindering investments in the LPG sector
• Lack of investment led to increased prices of cooking gas and use of unhealthy fuels like kerosene

Source: saharareporters.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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