#Country Updates #News #Nigeria #Upstream Oil & Gas News

FG to reintroduce N1.50k per litre tax on petroleum products

The Nigerian Customs Service, NCS has said the federal government would soon reintroduce the abolished N1.50k per litre levy on Petroleum Products.

Comptroller General of Nigeria Customs Service, NCS, Col. Hameed Ibrahim Ali, retd, stated this when he appeared before the Senator Francis Alimikhena, All Progressives Congress, APC, Edo North Senate Committee on Customs, Excise and Tariff to defend the 2021 Budget of the Customs Service.

According to him, the Customs has given the federal government a nod on the plan. He argued that the reintroduction is in accordance with the Petroleum Product Tax Regime of 2004 to enable it expand the revenue source of the government.

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Source: SweetCrudeReports

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