FG Removes VAT From Cooking Gas. Price To Crash - Politics

FG Removes VAT From Cooking Gas. Price To Crash - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › FG Removes VAT From Cooking Gas. Price To Crash (36413 Views)

FG Removes VAT From Cooking Gas. Price To Crash by Islie(op): 8:16am On Aug 13, 2018

Oil and gas experts have often argued that the VAT imposed on cooking gas makes the product more costly than imported brands from Niger and Equatorial Guinea

Adewale Sanyaolu

Indications emerged at the weekend that the Federal Government has finally succumbed to stakeholders’ pressure by removing Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) popularly called cooking gas. With this development, consumers should expect a crash in the price of cooking gas by about 20 percent.

Currently, a 12.5kg bottle of gas sells for N4,300 and is expected to crash to N3,440 with the new policy.

Oil and gas experts have often argued that the VAT imposed on cooking gas makes the product more costly than imported brands from Niger and Equatorial Guinea, thereby discouraging many consumers from embracing the use of cooking gas.

A source at the Nigerian National Petroleum Corporation (NNPC) said government has finalised talks with the Nigerian Liquefied Natural Gas (NLNG) and the Federal Inland Revenue Service (FIRS) to suspend further collection of VAT on cooking gas.

The source which did not confirm the date of implementation, assured that an official pronouncement would be made any time from now.

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), has been at the forefront of championing the cause for the removal of VAT on locally produced cooking gas.

NALPGAM had said it was imperative to develop effective policies to encourage investors to come into the LPG sector to deepen market penetration, boost the country’s economy and protect the environment.

According to the association, the removal of VAT on the gas supplied to marketers by NLNG would attract more investors and reduce importation of gas into the country, which is VAT-free.

It also advocated the need for the reduction of import duty on LPG equipment so as to encourage more investors to come in and deepen LPG consumption in the country.

“Our position is that the government has to provide the enabling environment for more people to come in. We have to remove VAT on LPG and reduce import duties on the equipment.

Meanwhile, NALPGAM has announced plans to deepen the use of LPG by assisting to increase local consumption from 700,000 metric tonnes to 1,000,000 metric tonnes yearly.

NALPGAM President, Mr. Nosa Ogieva-Okunbor, said if every stakeholder within the LPG value chain does what is right, the target would increase to about five million metric tonnes by 2025, adding that if achieved, Nigeria would have attained the league of nations with high level of LPG consumption.

http://sunnewsonline.com/cooking-gas-price-crash-vat/

11 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by Bethel4Life(f): 8:22am On Aug 13, 2018*

buhariguy:
The jobless aggressive lazy idiotic pigs of Biafra terrorist will not see this now.

waah! Waah!

Kpaaa! Kpaa! Kpooom!

Fshaaa! Fshaaa!

104 Likes 4 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by buhariguy(m): 8:26am On Aug 13, 2018

The jobless aggressive lazy idiotic pigs of Biafra terrorist will not see this now.

57 Likes 8 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by Nbote(m): 8:28am On Aug 13, 2018*

So despite flaring gas steadily we still import d same gas into dis country?? D zombie above is a raging madt man, pls ignore him...

For some of U morons who quoted me, so U know I don't reply foolish mentions and mo.rons. I may not b an oil and gas expert or minister of petroleum but I know jus enough to know d folly. Here's some stats u may find interesting. Why burn off gas and den go ryt ahead to import gas??

https://punchng.com/flared-gas-fg-targets-six-million-lpg-users/

https://www.vanguardngr.com/2018/03/nigeria-losing-n868m-daily-gas-flaring-nnpc/

88 Likes 3 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by Babyforever(f): 8:28am On Aug 13, 2018*

Election things

82 Likes 4 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by Wiseandtrue(f): 8:28am On Aug 13, 2018*

Islie:
Oil and gas experts have often argued that the VAT imposed on cooking gas makes the product more costly than imported brands from Niger and Equatorial Guinea

Currently, a 12.5kg bottle of gas sells for N4,300 and is expected to crash to N3,440 with the new policy.

http://sunnewsonline.com/cooking-gas-price-crash-vat/

Is this their definition of crash N4300 to N3,440

How much was it sold for before the emergence of Buhari

I don't understand, something you claim we have in abundance, why are we paying so much for it

This is the reason why Nigeria is not growing!

All government/APC policies are anti people! Infact, it hinders growth!

116 Likes 8 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by hisgrace090: 8:37am On Aug 13, 2018

The witches and wizards govt practice in Nigeria knows how to suffer it citizen with unending taxes.

4 Likes 1 Share

Re: FG Removes VAT From Cooking Gas. Price To Crash by Asquare84(m): 9:53am On Aug 13, 2018

In my area in Abuja 12.5 kg goes for 3900

12 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by exporters101: 10:02am On Aug 13, 2018

This is good news. I think Buhari is beginning to get it right.

5 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by Minjim: 10:02am On Aug 13, 2018*

In Lagos 12.5 kg is #3400-#3500. So if its coming down it better come down to #2400 - #2500

That 1k is something

Even common kerosene is more expensive than petrol and diesel

31 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by millionboi(m): 10:03am On Aug 13, 2018

buhariguy:
The jobless aggressive lazy idiotic pigs of Biafra terrorist will not see this now.

mumu

36 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by orjikuramo(m): 10:03am On Aug 13, 2018*

Some people will come n praise sing our president without asking how much it used to be. We need to ask questions and weigh options to help us know if we are moving forward, backward or stagnant.

PS - I used to be seriously bothered about people being tribal on this forum until I saw one image of a dirty boy lying on a bedbug infested bed in a dirty room typing on a phone with a message ( m sure u must have seen that image as well)

Anyway if you are sane, grown up, matured with a pinch of education and still indulge in tribal or political attack, trust me, you are directly opposite those qualities stated above.

Yall should have a great day

11 Likes 1 Share

Re: FG Removes VAT From Cooking Gas. Price To Crash by reantv(m): 10:03am On Aug 13, 2018

This is good. Hoping for many more.... Try and ...

Own your dream today at our now selling homes at Karimo District(FCT) by Turkish Hospitals. See signature for details.

Dynamic JT Homes

Re: FG Removes VAT From Cooking Gas. Price To Crash by 3rdavefarms(m): 10:03am On Aug 13, 2018

APC is still going down in 2019

Ahhhhh fear this country and the politicians they calculate with lame brain thinking we are all fools like them wink

6 Likes 2 Shares

Re: FG Removes VAT From Cooking Gas. Price To Crash by BIGDADDY000(m): 10:04am On Aug 13, 2018

they should just kuku kill us. Evil government. Power charges, fuel subsidy, calling rate, bank charges, etc, then this.

1 Like

Re: FG Removes VAT From Cooking Gas. Price To Crash by ba7man(m): 10:04am On Aug 13, 2018

Bethel4Life:
Ok since 2015

Campaign gimmick

If you like, don't buy the gas and be saying "Campaign gimmick".

4 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by Nobody: 10:04am On Aug 13, 2018

Islie:
Oil and gas experts have often argued that the VAT imposed on cooking gas makes the product more costly than imported brands from Niger and Equatorial Guinea

http://sunnewsonline.com/cooking-gas-price-crash-vat/

3 Likes 1 Share

Re: FG Removes VAT From Cooking Gas. Price To Crash by Lomprico2: 10:04am On Aug 13, 2018

buhariguy:
The jobless aggressive lazy idiotic pigs of Biafra terrorist will not see this now.

And do what with the lie? undecided

Re: FG Removes VAT From Cooking Gas. Price To Crash by exporters101: 10:04am On Aug 13, 2018

Wiseandtrue:
Is this their definition of crash N4300 to N3,440

How much was it sold for before the emergence of Buhari

I don't understand, something you claim we have in abundance, why are we paying so much for it

This is the reason why Nigeria is not growing!

All government/APC policies are anti people! Infact, it hinders growth!

What else will you guys ever appreciate. Haba

6 Likes

Re: FG Removes VAT From Cooking Gas. Price To Crash by Sijo01(f): 10:05am On Aug 13, 2018

Lets hope they match words with action because nothing (prices of goods/products) that goes up in Nigeria ever comes down.

Re: FG Removes VAT From Cooking Gas. Price To Crash by Bethel4Life(f): 10:05am On Aug 13, 2018

Kkk

Re: FG Removes VAT From Cooking Gas. Price To Crash by TechConsult: 10:05am On Aug 13, 2018

Amen i

Re: FG Removes VAT From Cooking Gas. Price To Crash by ba7man(m): 10:06am On Aug 13, 2018

Wiseandtrue:
Is this their definition of crash N4300 to N3,440

How much was it sold for before the emergence of Buhari

I don't understand, something you claim we have in abundance, why are we paying so much for it

This is the reason why Nigeria is not growing!

All government/APC policies are anti people! Infact, it hinders growth!

Don't worry, they'll soon come and dash you gas.

6 Likes 1 Share

Re: FG Removes VAT From Cooking Gas. Price To Crash by pol23: 10:06am On Aug 13, 2018

2019...here we go..
If you like sell PMS for 2 naira per liter.

1 Like

Re: FG Removes VAT From Cooking Gas. Price To Crash by OsuMustGo: 10:07am On Aug 13, 2018

In Nigeria,

Prices of commodities never crashes because people are very selfish and wicked.
Any prices of commodity that ever goes up will never crash again.

THE ONLY THING THAT CRASHES IS THE NAIRA.

THE GAS WILL STILL SELL FOR THE SAME PRICE OR MORE.

1 Like

Re: FG Removes VAT From Cooking Gas. Price To Crash by damola1: 10:07am On Aug 13, 2018

election year o!

Re: FG Removes VAT From Cooking Gas. Price To Crash by Nobody: 10:07am On Aug 13, 2018

Nice one.. Atleast make expenses de reduce for man head

Re: FG Removes VAT From Cooking Gas. Price To Crash by Emmafe(m): 10:08am On Aug 13, 2018

Election is near

Check my signature for Samsung phones deals

1 Like

Re: FG Removes VAT From Cooking Gas. Price To Crash by bjayx: 10:08am On Aug 13, 2018

Noted

1 2 3 4 5 Reply

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