Marketers seek VAT exemption on cooking gas
THE Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has called for removal of Value Added Tax (VAT) on locally produced Liquefied Petroleum Gas (LPG) otherwise called cooking gas.
Ogieva-Okunbor said it was imperative to develop effective policies to encourage investors to come into the LPG sector to deepen market penetration, boost the country’s economy and protect the environment.
He said the removal of VAT on the gas supplied to marketers by the Nigerian Liquefied Natural Gas (NLNG) would attract more investors and reduce importation of gas into the country, which is VAT free.
He also called for the reduction of import duty on LPG equipment in a bid to encourage more investors to come in and deepen LPG consumption in the country.
He said it was a shame that Nigeria remained one of the lowest consumers of LPG despite the enormous natural gas reserves in the country.
“Our position is that the government has to provide the enabling environment for more people to come in. We have to remove VAT on the LPG and reduce import duties on the equipment.
“When this is done, more investors will come into the market and that will help the country a great deal,” he said.
Ogieva-Okunbor urged the Federal Government to beam its searchlight on marketers responsible for arbitrary increase in the price of cooking gas for personal gain.