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The Nigeria Customs Service started implementing the Federal Government’s 100 per cent duty waiver for all processed Compressed Natural Gas and imported liquid petroleum gas. The waiver also extends to electric vehicles, gas air conditioners, and others.
The Nigeria Customs Service started implementing the Federal Government’s 100 per cent duty waiver for all processed Compressed Natural Gas and imported liquid petroleum gas. The waiver also extends to electric vehicles, gas air conditioners, and others.The Nigerian Federal Government directed NCS to immediately apply a zero per cent duty on CNG, LPG, CNG equipment components, conversion and installation services, LPG equipment components, conversion and installation services, and all equipment and infrastructure related to the expansion CNG, LPG and the Presidential CNG Initiative, including conversion kits. In a circular titled ‘Fiscal Incentives for the Presidential Gas for Growth Initiative’, the Ministry directed that “In line with the President’s commitment to improve the investment climate in Nigeria and to increase the utilisation and supply of gas in the domestic market
According to Part 1, Section 5 of the Customs and Excise Tariff Act, which grants an Import Duty Waiver on machinery, equipment, and spare parts imported into Nigeria for the utilization of Nigerian gas (‘Gas Utilisation Waiver’), the importation of all equipment related to Compressed Natural Gas and Liquefied Petroleum Gas into the Nigerian market shall attract zero per cent (0%) import duty rate.
Before someone benefits from that import customs duty exemption, Compressed Natural Gas equipment, it requires a letter of support from the office of the Special Adviser to the President on Energy. That is the criterion for you to benefit from the exemption from the payment of customs duty. Some of the items to benefit from the presidential gas growth initiative include CNG vehicles, electric vehicles, LPG/CNG conversion kits, gas burners, gas water heaters, and gas air conditioners, among others.
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The National President of the Nigeria Association of LPG Marketers, Oladapo Olatunbosun, berated the NSC for its alleged reluctance to implement the presidential directive on zero import duties on gas items and imported LPG. Olatunbosun, while hailing President Bola Tinubu for giving the directive to crash the rising price of LPG, noted that the agencies of government, particularly the NSC that was central to implementing the timely intervention of the government, had allegedly refused to execute it.
