NCS Issues New Guidelines for Gas-Powered Vehicles under Presidential Initiative

Nigeria's Customs Service (NCS) has announced additional guidelines for the Fiscal Incentives under the Presidential Gas for Growth Initiative. According to NCS spokesperson Abdullahi Maiwada, this move is in line with President Bola Tinubu's commitment to promoting cleaner energy alternatives and sustainable transportation solutions.

The guidelines exempt importers of specified environmentally friendly and gas-powered vehicles, equipment, and components from paying Import Duty and Value Added Tax. Eligible items include Compressed Natural Gas (CNG) fuel vehicles, Liquefied Petroleum Gas (LPG) fuel vehicles, Pure Electric Vehicles, and others.

Importers seeking to benefit from these incentives must obtain an Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance and comply with all applicable regulatory requirements. The NCS aims to support the Federal Government's objectives of reducing transportation and energy costs while promoting investment in clean energy infrastructure.