FG yet to remove VAT on LPG despite promises

Despite promises, the Federal Government has not yet removed Value Added Tax, VAT, from locally sourced Liquefied Petroleum Gas, LPG.

Investigations by Vanguard over the weekend, showed that VAT was still being charged, thereby affecting the pricing and demand for LPG in the country.

Commenting on the development, Executive Secretary, Nigeria Association of LPG Marketers, NALPGAM, Mr. Bassey Essien, disclosed in an interview with Vanguard that the continued imposition of VAT on locally produced LPG has affected operations in Nigeria.

He said: “The VAT has made locally produced LPG more expensive than imported products. Consequently, this has affected the demand for locally produced LPG.

“It is important that the government that is seeking to boost investment, local production and increased utilisation of LPG should tackle critical issues, especially VAT that stare us in the face. The removal of VAT will stabilise the market and stimulate investment, especially as new investors will be encouraged to invest in the sector.”

Vanguard, September 11, 2018

 

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