TUESDAY- 9th November, 2021: The Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, Bassey Essien, said on Monday that the reintroduction of customs duty and Value Added Tax on imported LPG were the basic reasons for the halt in its imports by importers.
Importers of Liquefied Petroleum Gas, popularly called cooking gas, have stopped importing the commodity.
Findings have also shown that the cost of the product increased by 240 per cent for 12.5kg, jumping from N3,000 to N10,200 between January and October.
Currently about 65 per cent of LPG is imported into Nigeria, while domestic production accounts for 35 per cent, hence the halt in imports could further shoot up cooking gas price if the situation is not addressed.
Essien stated that there were several other issues and stressed that if the halt in LPG imports should drag further, the supply of the commodity domestically could suffer severe drop.
