MIRIAM NNOLI 
The Federal Government through the Ministry of Finance has disclosed the removal of the Value-Added Tax (VAT) on Liquefied Petroleum Gas (cooking gas), Compressed Natural Gas, Automotive Gas Oil (Diesel), and other reliefs to boost investment and tackle economic hardship in the country.
The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun announced this in a statement issued on Wednesday, noting the initiative is to lower rising living costs and accelerate Nigeria’s transition to cleaner energy.
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The statement reads, “The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including diesel, feed gas, Liquefied Petroleum Gas, Compressed Natural Gas, electric vehicles, Liquefied Natural Gas infrastructure, and clean cooking equipment.”
“These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria’s transition to cleaner energy sources,”
“This initiative is aimed at positioning Nigeria’s deep offshore basin as a premier destination for global oil and gas investments.”
