The Federal Government has announced the removal of the Value-Added Tax on Liquefied Petroleum Gas (cooking gas), Compressed Natural Gas, Automotive Gas Oil(Diesel) and other reliefs to boost investment and tackle economic hardship in the country.
The Federal Government has announced the removal of the Value-Added Tax on Liquefied Petroleum Gas , Compressed Natural Gas, Automotive Gas Oil and other reliefs to boost investment and tackle economic hardship in the country. It also announced VAT reliefs for the importation of key energy products and infrastructure, including diesel, feed gas, electric vehicles, Liquefied Natural Gas infrastructure, and clean cooking equipment.
“The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including diesel, feed gas, Liquefied Petroleum Gas, Compressed Natural Gas, electric vehicles, Liquefied Natural Gas infrastructure, and clean cooking equipment. 'These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria’s transition to cleaner energy sources,' he said.
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