Stakeholders Advocate Removal of Duty on CNG Trucks, Spare Parts

Started by toluwalopesong, Dec 27, 2024, 08:53 AM

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toluwalopesong

Dec 27, 2024, 08:53 AM
Stakeholders Advocate Removal of Duty on CNG Trucks, Spare Parts

Industry stakeholders have called for the elimination of import duties on compressed natural gas (CNG) trucks and their spare parts to drive Nigeria's transition to cleaner energy solutions. This appeal was made during a recent executive motoring forum, where participants emphasized the critical role of CNG-powered vehicles in reducing carbon emissions and lowering the nation's dependence on petrol and diesel-powered engines.

The stakeholders highlighted that high import duties on CNG trucks and components have significantly increased costs for businesses, discouraging wider adoption of these eco-friendly alternatives. They urged the federal government to introduce policies that incentivize the use of CNG vehicles, including tax exemptions and duty waivers on imports, to make them more accessible to businesses and individuals.

According to experts, the removal of import duties could accelerate the deployment of CNG-powered fleets across various sectors, including logistics, public transportation, and industrial operations. This shift would not only enhance energy efficiency but also contribute to Nigeria's efforts to meet its environmental sustainability targets under the Paris Agreement.

In response, government representatives assured stakeholders of ongoing discussions to address the challenges facing the adoption of CNG technology. They reiterated their commitment to creating a conducive environment for investments in cleaner energy solutions, noting that such measures align with the national energy transition plan.

The forum concluded with a call for collaborative efforts between the public and private sectors to fast-track the adoption of CNG-powered vehicles and infrastructure. Stakeholders believe that removing import duties on CNG trucks and spare parts is a critical step toward achieving a sustainable and environmentally friendly transportation system in Nigeria.
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