By Modupe Gbadeyanka
An appeal has been made to Federal Government for the removal of Value Added Tax on Liquefied Petroleum Gas, popularly known as cooking gas.
President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr Nosa Ogieva-Okunbo, explained that the removal of VAT on LNG would attract more investors into the business and also increase the use of cooking gas in the country.
According to him, government must remove VAT on the LPG and reduce import duties on the equipment.
“Government must provide an enabling environment to attract more investors by removing VAT on LPG.
“It is a shame that despite being blessed with enormous gas, Nigeria has not been able to make huge money from the sector because unfriendly policies.
“All we want the government to do for us now is to remove VAT. This will deepen the LPG consumption in the country,” Mr Ogieva-Okunbo during a visit to Nipco Plc.
The group commended the role of Nipco Plc in the LNG business, saying the company came in to save the sector.
In his remarks, Managing Director of Nipco, Mr Sanjay Teotia, expressed his firm’s commitment to deepening LNG consumption in the country.
He said the company will continue to expand its gas distribution value chain by providing veritable avenue for storage and dispense to bottling plants owners and other ancillary operators in the LPG market.
Mr Teotia assured the association of Nipco’s cooperation in making sure that its gas prices are affordable.
