Federal Government Promotes LPG Usage with Tax Reliefs

Started by toluwalopesong, Oct 28, 2024, 11:52 PM

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toluwalopesong

Federal Government Promotes LPG Usage with Tax Reliefs to Encourage Corporate Support



Enhanced LPG distribution networks are expected to improve accessibility and reduce costs for consumers. (Source: Tribune)

In response to mounting pressure from stakeholders in Nigeria's gas sector, the Federal Government recently announced a 50% tax relief proposal for companies that actively support the adoption of Liquified Petroleum Gas (LPG) within their communities. This policy is specifically aimed at organizations that invest in LPG infrastructure, such as cooking gas distribution systems, that directly benefit low-income communities.

The tax reliefs come at a time when LPG prices are high, affecting household affordability across Nigeria. By incentivizing companies to expand LPG infrastructure and provide accessible, low-cost options for cooking gas, the government seeks to curb reliance on firewood and reduce the indoor air pollution associated with traditional cooking methods. Niglpgas.com reports that as companies embrace this tax incentive, they not only stand to gain significant tax savings but also contribute to Nigeria's environmental health by promoting cleaner cooking fuels.

Expected outcomes include increased LPG availability and lower retail prices, benefiting an estimated 50 million households by reducing costs associated with cooking. Niglpgas.com supports this government policy, highlighting its potential to create a more resilient LPG market, while meeting the clean energy needs of low-income Nigerians.


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