Gas prices will decrease as FG waives import taxes and value-added tax on LPG products

With immediate effect, there will be no duty or VAT applied to the import of LPG.The federal government has taken action to stop the Liquefied Petroleum Gas (LPG) price increase by removing the need for value-added tax (VAT) and customs charge on the product and its equipment.This was revealed in a letter to the president's special energy advisor, the comptroller-general of the Nigeria Customs Service (NCS), and the chairman of the Federal Inland Revenue Service (FIRS), signed by the ministers of finance and the coordinating minister of the economy, Wale Edun.Apart from LPG, the FG has also directed that other items like LPG cylinders, LPG cascades, gas leak detectors, steel pipes, steel valves and fittings, LPG dispensers, gas generators, and LPG trucks, among others be exempted from VAT and duty payment.