The Nigeria Customs Service (NCS) has exempted the Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG) also known as cooking gas, Electricity Vehicle (EV) from 100 per cent payment of import duty and Value Added Tax (VAT).

This was contained in the additional guidelines on Fiscal Incentives Under the Presidential Gas for Growth Initiative, which the Service issued on Friday in Abuja.

National Public Relations Officer, Abdullahi Maiwada made the disclosure in a press statement.

He said, “Pursuant to the approved fiscal incentives, the importation of specified environmentally friendly and gas-powered vehicles, equipment, and components shall enjoy exemption from the payment of Import Duty and Value Added Tax (VAT).

“The approved categories include Compressed Natural Gas (CNG) fuel vehicles (100 per cent CNG), Liquefied Petroleum Gas (LPG) fuel vehicles (100 per cent LPG), Pure Electric Vehicles (100 per cent Electric), Extended Range Electric Vehicles (EREVs) with a minimum pure electric range of 200 kilometres, CNG and LPG conversion kits for petrol and diesel vehicles, tricycles and motorbikes certified for resale by the Federal Ministry of Finance, as well as semi-trailers configured with skid-mounted CNG, LPG, and Liquefied Natural Gas (LNG) storage tanks for gas distribution.”

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NCS added that importers seeking to benefit from these incentives are required to obtain an Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance and comply with all applicable regulatory requirements governing the importation of eligible items.

According to the statement, the approved fiscal framework provides that some specific categories of vehicles and related items shall…