Connect with us

Business

Fuel distributors angry over the lack of tax exemptions for LPG goods.

Published

on

Gas marketers lament non-implementation of tax waivers  [BocopEnergy]

Gas marketers bemoan the lack of tax breaks for LPG goods.

Gas industry stakeholders have petitioned the appropriate authorities to start offering tax breaks on goods related to liquefied petroleum gas (LPG).

Gas marketers lament non-implementation of tax waivers  [BocopEnergy]

Under the auspices of the Nigeria Association of LPG Marketers, the Nigeria Customs Service (NCS) was criticized by the National President Oladapo Olatunbosun and other stakeholders for not adhering to the presidential direction to suspend import tariffs on LPG imports.

Remember that the Presidency has ordered the exemption from VAT and duty payment of certain commodities, including LPG cylinders, LPG cascades, gas leak detectors, steel pipes, steel valves and fittings, LPG dispensers, gas generators, and LPG trucks.

Read Also: The CBN Finally Relaxes The Ban On Bank Transactions Involving Cryptocurrencies. » WHITEBEETLES

This was done to improve LPG supply in order to fulfill local demand and to curb the rising market price of LPG.

The LPG stakeholders observed that the NCS had not yet complied with the mandate from the FG.

Olatunbosun claims that the majority of LPG marketers’ products have experienced significant demurrage due to prolonged port delays, which would be reflected in the final product pricing. He claimed that since they would have to pay more for LPG items, this would hurt the end users.

Olatunbosun stated, “It is regrettable that certain individuals and organizations, especially the Nigeria Customs Service, have declined to carry out President Bola Ahmed Tinubu’s direction on the waiver of import duty on gas goods and imported gas among other things.

Read More:N-Power Recipients Who Are Due Arrears, , Says Betta Edu » WHITEBEETLES

“The President has taken some admirable steps to increase the use of gas and

reduce the cost of gas by a considerable amount.

In response, Abdullahi Maiwada, the NCS’s National Public Relations Officer, stated that it was incorrect to claim that the NCS had declined to carry out the presidential mandate.

Credit. Puls.ng

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2023 Whitebeetles Consult

close