Federal Government removes VAT and customs duty payments from cooking gas imports into Nigeria

The Federal Government has removed VAT and customs duty payments from cooking gas imports. This is according to a letter written to several government agencies. 

The Cable reports that the federal government has decided to waive customs duty and value-added tax (VAT) on the importation of liquefied petroleum gas (LPG) also known as cooking gas and its associated equipment. This action aims to bring down the cost of cooking gas across the country. 

ALSO READ: President Tinubu Dragging Us To Our Graves – Sule Lamido (Details)

The Ministry of Finance conveyed this decision in a letter dated November 28, 2023, addressed to several officials including the Special Adviser to the President on Energy, the Comptroller-General of the Nigeria Customs Service (NCS), and the Chairman of the Federal Inland Revenue Service (FIRS). Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, signed the letter. 

A part of the letter read: 

“In line with His Excellency, President Bola Tinubu’s commitment to improving the investment climate in Nigeria, increasing the supply of LPG to meet local demand, reducing market prices, and promoting clean cooking practices, I hereby affirm Presidential directive dated July 29, 2022, with reference number PRES/88/MPR/99,” the letter reads. 

“Accordingly, the importation of LPG utilizing HS Codes 2711.12.00.00, 2711.13.00.00 and 2711.19.00.00 is exempt from Import Duty and Value-Added Tax. Consequently, the Importation of LPG shall incur a 0% duty rate and 0% VAT rate, effective immediately.”