Group Managing Director of Techno Oil Limited, Nkechi Obi, has called on the Federal Government to restore the 40 percent import duties policies on the importation of Liquefied Petroleum Gas, LPG, and Compressed Natural Gas, CNG, cylinders.
She made the call recently during a panel session at the 2024 Nigeria Oil and Gas NOG conference in Abuja.
Obi explained that the government needed to discourage importation by reversing its recent zero import policy on LPG, and CNG to boost local manufacturers.
We need policy reversal on that to encourage local producers. The unofficial explanation we are getting from some customs officers is that the Compressed Natural Gas CNG which the government wants to encourage its usage in Nigeria, has the same Harmonised System HS code as LPG.
So, the import benefits placed on CNG equipment eventually affected LPG equipment that is why they were tied together on the zero import duties.
