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The Federal Government is offering zero customs duty and zero value-added taxes (VAT) on the importation of compressed natural gas (CNG) conversion kits into the country.
Ajuri Ngelale, the Special Adviser to the president on Media and Publicity stated this during an interview on Friday night via Channels Television.
The reason for this is to boost the inflow of CNG conversion kits into the country while local CNG kit assembly plants are set up in the country.
He said that the government recognizes the need to crash energy prices in the country after the removal of fuel subsidy which has affected the citizenry when it comes to increased food and transportation costs.
According to Ngelale, the Presidential CNG Initiative (PCNGI) which is chaired by the president’s chief of staff, Femi Gbajabiamila, will ensure that mass transit systems are direct beneficiaries of the CNG solution to remove burdens from low-income earners who use okadas, keke apps.
According to Ngelale, the CNG plan will be executed in the states, but it will be done in such a way that it is guided by private sector participation and the regulation of federal authorities.
Peoplesmind
