October 28, 2023. Nigerian Federal Government officially launches the Presidential Compressed Natural Gas Initiative (PCNGI) with seven conversion centres across the country. The ceremony was officiated by the Chief of Staff to the President Mr Femi Gbajibiamila.
The symbolic handover of the CNG buses to the State House was done by the Chairman of the Presidential CNG Initiative Steering Committee, Mr Zacch Adedeji.
Represented by the Chief Executive Officer of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, the PCNGI chairman said government has waived the Value Added Tax (VAT) on the CNG buses purchase.
“It is my pleasure as your Chief Tax Officer, a position I hold alongside as Chairman of this initiative, to announce that we will be waving the Value Added Tax on CNG purchases as well as seeking duty waivers for value-chain. The goal is to build a sustainable future, leveraging our own cheap and clean energy source gas,” he said.
