The Federal Inland Revenue Service (FIRS) has announced that it will begin to eliminate VAT and duties on CNG purchases. This is a big move in the right direction to promote compressed natural gas (CNG) as a more affordable and sustainable fuel alternative. This decision is expected to encourage more people to adopt compressed natural gas (CNG) as a widely accessible, cost-effective energy source.<\/p>\n
This was made known today by the Acting Chairman of FIRS, Zacch Adedeji at the the Handover Ceremony and Presentation of CNG Buses at the State House on Friday.<\/p>\n
Adedeji, who is also the Chairman of the Steering Committee of the Presidential Initiative on CNG, was represented by Mr. Farouk Ahmed, Executive Secretary of Nigerian Midstream and Downstream Petroleum Regulatory Authority (MDPRA) at the event.<\/p>\n
Adedeji said “It is my pleasure as your Chief Tax Officer a position I hold as Chairman of this Initiative to announce that we will be waiving the value added tax on CNG purchases as well as seeking duty waivers for value chains.<\/p>\n
“The goal is to build a sustainable future leveraging our own cheap and clean energy source (gas)”, he added.<\/p>\n
Also speaking at the event is the Programme Director, Engineer Michael Oluwagbemi who said the move is part of a broader strategy to encourage the use of CNG and reduce the nation’s reliance on traditional fossil fuels.<\/p>\n
Speaking exclusively to Abuja City Journal<\/em>, he noted that CNG is known for its environmental benefits, as it produces fewer emissions and contributes to cleaner air quality. Additionally, CNG is often more cost-efficient, making it an attractive option for both consumers and investors.<\/p>\n This initiative is in alignment with global efforts to transition towards cleaner and more sustainable energy sources, reducing the carbon footprint and promoting a greener future.<\/p>\n","protected":false},"excerpt":{"rendered":" The Federal Inland Revenue Service (FIRS) has announced that it will begin to eliminate VAT and duties on CNG purchases. This is a big move in the right direction to promote compressed natural gas (CNG) as a more affordable and sustainable fuel alternative. This decision is expected to encourage more people to adopt compressed natural […]<\/p>\n","protected":false},"author":2,"featured_media":3857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-3856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/3856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=3856"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/3856\/revisions"}],"predecessor-version":[{"id":3880,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/3856\/revisions\/3880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/3857"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=3856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=3856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=3856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}