The Federal Government has clarified tax exemptions applying to clean-energy vehicles, including fully CNG-powered, LPG-powered and electric vehicles.
The Nigeria Customs Service says the incentives cover fully CNG-powered and LPG-powered vehicles, battery electric vehicles and certain extended-range electric vehicles. Eligible CNG and LPG conversion kits and other specified equipment are also covered.
However, hybrid and dual-fuel vehicles, luxury vehicles valued at 100,000 dollars or more and some other categories remain subject to import duty and VAT.
The Federal Ministry of Finance introduced exemptions for CNG, LPG and electric vehicles under the VAT Modification Order 2024. Customs says the measures are designed to lower transport and energy costs, encourage cleaner mobility and reduce dependence on petrol.
Also read: Former finance minister, Sardaunan Sokoto dies at 89
Leave feedback about this
You must be logged in to post a comment.