The Nigeria Customs Service, NCS, has issued additional guidelines for the implementation of fiscal incentives under the Presidential Gas for Growth Initiative, providing clarity on the categories of environmentally friendly vehicles and equipment eligible for exemption from Import Duty and Value Added Tax, VAT.

The Service, in a statement signed by its National Public Relations Officer, Deputy Comptroller of Customs Abdullahi Maiwada, said the guidelines were issued by the Federal Ministry of Finance in line with President Bola Tinubu’s commitment to promoting cleaner energy alternatives and accelerating the adoption of sustainable transportation solutions across the country.

According to the statement, eligible imports include 100 per cent Compressed Natural Gas (CNG) vehicles, 100 per cent Liquefied Petroleum Gas (LPG) vehicles, pure electric vehicles, Extended Range Electric Vehicles (EREVs) with a minimum electric range of 200 kilometres, CNG and LPG conversion kits, certified gas-powered tricycles and motorcycles, as well as semi-trailers fitted with skid-mounted CNG, LPG and Liquefied Natural Gas, LNG storage tanks for gas distribution.

The Service explained that importers seeking to benefit from the incentives must first obtain an Import Duty Exemption Certificate, IDEC from the Federal Ministry of Finance and comply with all relevant regulatory requirements before bringing eligible items into the country.

“Importers seeking to benefit from these incentives are required to obtain an Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance and comply with all applicable regulatory requirements governing the importation of eligible items.”

Some of the categories that remain ineligible for the fiscal incentives included: hybrid electric vehicles, dual-fuel petrol or diesel vehicles, luxury vehicles valued at $100,000 and above, overseas-converted CNG vehicles without factory-fitted capability, non-self-driven semi-trailers and flatbeds, as well as spare parts of all kinds.

According to the service, “the implementation of these fiscal incentives is intended to support the Federal Government’s broader objectives of reducing transportation and energy costs, encouraging investment in clean energy infrastructure, expanding the adoption of alternative fuel technologies, and strengthening Nigeria’s energy security and environmental sustainability agenda.”

Meanwhile, the Service reaffirmed its commitment to transparent implementation of the policy under the leadership of the Comptroller-General of Customs, Bashir Adewale Adeniyi, urging importers, licensed customs agents and other stakeholders to comply strictly with the approved guidelines, adding that the measures are designed to ensure only qualified imports benefit from the incentives while supporting the federal government’s transition to cleaner and more sustainable energy solutions. (Saturday Vanguard)

Update news