Nigeria has announced it will exempt fully compressed natural gas (CNG), liquefied petroleum gas, and electric vehicles from import duties and value-added tax (VAT), aiming to promote cleaner energy and reduce reliance on fossil fuels. The decision, made by the Nigerian government, is part of broader efforts to transition the country toward more sustainable transportation options. The exemption applies to vehicles and equipment fully powered by CNG, liquefied petroleum gas, or electricity, according to official sources.
The move is expected to lower the cost of importing these vehicles and related infrastructure, encouraging both private and public sectors to adopt greener technologies. Officials emphasized that the policy aligns with global trends toward reducing carbon emissions and improving air quality. The exemption is set to take effect immediately, with details on implementation yet to be fully released.
The Nigerian government has also stated that the policy will be reviewed periodically to ensure it remains effective in achieving its environmental and economic goals. This development comes amid growing pressure on the country to address pollution and energy security challenges. (businessday.ng)
