Marketers say Federal Government yet to implement VAT on imported LPG.
Written by News Room on January 11, 2022
The Federal Government is yet to implement the payment of Value Added Tax (VAT) on imported Liquefied Petroleum Gas (LPG) according to reports.
LPG, also known as cooking gas marketers confirmed the development on Monday in Lagos while reacting to the decline in the price of the product across the country.
Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr Bassey Essien, urged the government to urgently clarify its position on the issue.
He said the impact was currently being felt as the prices of cooking gas had reduced from about 10,000 naira and 10,500 naira for a 12.5kg gas cylinder to about 7,400 naira and 9000 naira, across the country.
Also, National Chairman, Liquefied Petroleum Gas Retailers (LPGAR), branch of National Union of Petroleum and Natural Gas Workers (NUPENG), Mr Michael Umudu, said the decline in the prices of cooking gas was a welcome development.
He emphasised the need for the government to encourage more Nigerians to embrace gas because of the attendant health benefits to the nation.