The Federal Government has confirmed the removal of Value Added Tax VAT on Liquefied Petroleum Gas LPG in Nigeria, otherwise known as cooking gas.
The Chairman, Federal Inland Revenue Service, FIRS, who said this at the stakeholders’ meeting with Vice President Yemi Osinbajo, in Abuja, recently said the measure was targeted at growing the LPG sector.
The Federal Government had earlier in the year promised to remove VAT on cooking gas to encourage utilisation of the product in many households.
Osinbajo had explained that specifically, for household cooking, the present administration is targeting a 40 percent adoption rate (i.e. 13.8m households) in 5 years, and 73 percent adoption in 10 years (33.3m households).
The President, Nigeria Liquefied Petroleum Gas Association, Nuhu Yakubu said the Nigeria LP Gas Association is the umbrella body of all stakeholders in the LP Gas sector in Nigeria.