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VAT makes LPG price high – Marketers

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove the Value Added Tax (VAT) on locally produced Liquefied…

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove the Value Added Tax (VAT) on locally produced Liquefied Petroleum Gas (LPG), cooking gas.

The association’s president, Mr Nosa Ogieva-Okunbor, who made the appeal in Lagos on Wednesday, 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.

 The price of 12.5kg cylinder of cooking gas has risen from N3,600 in April to between N4,200 and N4,300 currently in some markets. 

Ogieva-Okunbor said it was a shame that Nigeria remained one of the lowest consumers of LPG despite the enormous natural gas reserves in the country.

Ogieva-Okunbor, therefore urged the Federal Government to beam its searchlight on marketers responsible for arbitrary increase in the price of cooking gas.

He noted that the price of gas had jumped by 15 per cent in less than two weeks.

According to him, the price of 20 metric tonnes (about 35,000 litres) of LPG, which was N4 million three weeks ago, increased to N4.6 million last week.

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