Marketers seek removal of VAT on imported cooking gas
The Major Oil Marketers Association of Nigeria has said the imposition of Value Added Tax on imported Liquefied Petroleum Gas, also known as cooking gas, would hamper the adoption of the fuel in the country.
The new chairman of MOMAN, Olumide Adeosun, said this on Thursday during a virtual press briefing where his appointment was announced.
Adeosun, who is the Chief Executive Officer of Ardova Plc, succeeds the CEO of 11 Plc (formally Mobil Oil Nigeria Plc), Mr. Tunji Oyebanji, who was chairman of the association from 2019 to 2021.
He said MOMAN must be at the forefront of unravelling the opportunities associated with operating in the free market structures that had been created by the Petroleum Industry Act, while continually advocating for changes that positively impact the sector and the Nigerian economy.
Adeosun said “Making the transition to a fully competitive pricing oriented downstream sector will require the collective engagement and resolve of all stakeholders.
“The world around us is changing rapidly and the oil and gas industry has been proven to be one of the most exposed to the wind of this change.
He said the association would continue sustained engagement and the creation of initiatives that would make the implementation of the PIA a shared success for all concerned parties.
