Official Gazette of Value Added Tax (Modification) Order, 2024


*Official Gazette of Value Added Tax (Modification) Order, 2024*

A new order has been issued to formalise and extend the suspension of VAT on diesel. In addition, the order grants VAT exemption on CNG, electric vehicles, biogas, and biofuel equipment and accessories for clean cooking and transportation.

Read further details and download a copy of the order here:
 drive.google.com/file/d/1cTrPdv…

Comments

Post a Comment

Popular posts from this blog

Seizure of Allocation to States and LGAs: Get the Facts Right

Seizure of Allocation to States and LGAs: Get the Facts Right In Nigeria, discussions around federal allocation and the authority of the president have stirred debates, especially regarding states creating new Local Government Areas (LGAs). Let's break down the facts in the landmark case Attorney General of Lagos State v. Attorney General of the Federation (S.C.70/2004), which set a precedent on presidential powers about state allocations. Background: What Sparked the Dispute? The legal battle originated when the federal government (FG) at the time (under President Obasanjo) instructed the Minister of State for Finance to withhold federal allocations to states that had created new LGAs. This directive aimed to halt funding to states like Lagos, who had expanded their local government structure. The Supreme Court’s Standpoint The Chief Justice of Nigeria, Justice Uwais, addressed the heart of the dispute. His words resonate clearly: "The President has no such power." The c...
Read more

FULL TEXT OF NATIONAL BROADCAST BY PRESIDENT BOLA AHMED TINUBU ON THE 64TH INDEPENDENCE ANNIVERSARY OF THE FEDERAL REPUBLIC OF NIGERIA OCTOBER 1, 2024

Image
FULL TEXT OF NATIONAL BROADCAST BY PRESIDENT BOLA AHMED TINUBU ON THE 64TH INDEPENDENCE ANNIVERSARY OF THE FEDERAL REPUBLIC OF NIGERIA OCTOBER 1, 2024   Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard.    As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel.     Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope...
Read more

The Advantages and Disadvantages of CNG-Powered Vehicles

Image
The Advantages and Disadvantages of CNG-Powered Vehicles If you are thinking of converting your car to run on Compressed Natural Gas (CNG), it’s important to weigh both the advantages and disadvantages of CNG-powered vehicles. Making an informed decision can help you decide whether this alternative fuel source is the right choice for your needs. Below is an overview of what you need to know before converting your vehicle to CNG. Advantages of CNG Vehicles 1. Reduced Fuel Costs Converting your vehicle to CNG can reduce your monthly fuel spending by over 30%. Though the initial cost of conversion can be high, the savings on fuel costs will eventually offset this expense over time. 2. Increased Vehicle Longevity CNG is a cleaner-burning fuel, which means it helps extend your car’s maintenance mileage and can make your engine last longer. This is because CNG produces fewer carbon deposits, reducing wear on engine components. 3. Extended Exhaust and Catalyst Life The slower burn...
Read more