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Gas generators, CNG/LPG dual fuel vehicles… 63 items exempted from VAT
Electric Car, Electric Fleet October 4, 2024 Anthony Mote Comments: 0

Gas generators, CNG/LPG dual fuel vehicles… 63 items exempted from VAT

 The federal government has exempted 63 items from value-added tax (VAT). According to a post on X by Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, on Friday, the exempted items are contained in an official gazette for the ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024. On Wednesday, Wale Edun, minister of finance and coordinating minister of the economy, announced the introduction of concessions aimed at revitalising the oil...
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European Union votes to impose tariffs on Chinese electric vehicles
Commercial EV, Electric Car, Electric Fleet October 4, 2024 Lyndia Pecora Comments: 0

European Union votes to impose tariffs on Chinese electric vehicles

Employees work on an electric vehicle (EV) production line at the Leapmotor factory in Jinhua, China’s eastern Zhejiang province on September 18, 2024. Adek Berry | Afp | Getty Images The European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles (BEVs). “Today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU...
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Private demand for new diesel cars is growing faster than for electric vehicles
Commercial EV, Electric Car, Electric Fleet October 4, 2024 Camellia Grisby Comments: 0

Private demand for new diesel cars is growing faster than for electric vehicles

The Society of Motor Manufacturers and Traders said registrations of new diesel cars for private buyers in September grew by around 17.2% compared with the same month in 2023 Demand for new diesel cars is growing faster than for pure battery electrics, preliminary figures show ( Image: PA Wire/PA Images) Private demand for new diesel cars is growing faster than for pure battery electrics, new figures show. The Society of Motor Manufacturers and Traders (SMMT) highlighted that registrations of ne...
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FG Officially Launches Distribution Of 2,000 CNG-powered Tricycles To Empower Youth
Electric Car, Electric Fleet October 3, 2024 Obafemee80 Comments: 0

FG Officially Launches Distribution Of 2,000 CNG-powered Tricycles To Empower Youth

The Presidential CNG Initiative (PCNG-i) launches distribution of 2,000 CNG-powered tricycles to empower Nigerian youth. The distribution of CNG-powered tricycles kicked off on Tuesday October 1st 2024 at the Old Parade Ground in Abuja. Initiative is part of efforts by the FG to empower the youth and to reduce transportation costs for Nigerians. FG confirm that plans are in place to expand the distribution of CNG-powered tricycles to other states in the country. The Presidential CNG Initiative (...
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Blame poor leadership for Nigeria’s challenges – Charanchi
Electric Car, Electric Fleet October 3, 2024 Joe Abuchi Comments: 0

Blame poor leadership for Nigeria’s challenges – Charanchi

October 3, 2024October 3, 2024 The Coalition of Northern Groups (CNG) has strongly criticized the current leadership in Nigeria, blaming it for the country’s ongoing crises. The group highlighted that the government’s inability to instill confidence in the population has left many Nigerians disillusioned, as shown by the subdued reactions during the recent independence celebrations. In an interview, CNG National Coordinator, Comrade Jamilu Aliyu Charanchi, expressed grave concerns over the w...
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Maruti Suzuki shares in focus after company reports 2% YoY upticks in September sales
Electric Car, Electric Fleet October 3, 2024 ETMarkets.com Comments: 0

Maruti Suzuki shares in focus after company reports 2% YoY upticks in September sales

Synopsis Shares of Maruti Suzuki are likely to draw attention after a 2% increase in September sales, reaching 1,84,727 units. Domestic passenger vehicles sales dropped 4%. The company reports 10.63 lakh units sold in the first half of the fiscal year. CNG vehicle sales now account for over 34% of Maruti’s total sales. iStock Shares of Maruti Suzuki are expected to remain in focus on Thursday after India’s largest passenger car maker reported a nearly 2% jump in September total sales at...
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FG announces VAT exemptions for energy, oil sectors
Electric Car, Electric Fleet October 2, 2024 Ahmed Ibrahim Comments: 0

FG announces VAT exemptions for energy, oil sectors

In a move to boost Nigeria’s energy sector, President Bola Tinubu’s administration has announced new fiscal incentives, including Value Added Tax (VAT) exemptions on key energy products and infrastructure. These exemptions cover Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment. Additionally, the government introduced a Notice of Tax Incentives for Deep Offshore Oil &...
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High living cost: FG removes VAT on diesel, cooking gas, electric cars, others
Electric Car, Electric Fleet October 2, 2024 Joseph Inokotong Comments: 0

High living cost: FG removes VAT on diesel, cooking gas, electric cars, others

The Federal Government has exempted a range of various energy products, including diesel, Liquefied Natural Gas (LNG), also known as cooking gas, Compressed Natural Gas (CNG), and electric vehicles, among others from value added tax (VAT). The announcement was made by Mohammed Manga, Director, Information and Public Relations in Federal Ministry of Finance via a statement on Wednesday. He said the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on unveiled two major f...
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Tinubu approves deployment of electric vehicles in North-East
Commercial EV, Electric Car, Electric Fleet October 2, 2024 Ripples Nigeria Comments: 0

Tinubu approves deployment of electric vehicles in North-East

President Bola Tinubu has approved the North-East Development Commission (NEDC) request to deploy electric-powered vehicles to ease transportation challenges in the region. The commission’s chairman, Mohammed Alkali, disclosed this to State House correspondents after a brief meeting with President Bola Tinubu at the Presidential Villa, Abuja, on Wednesday. He said the commission is putting modalities in place to build a 5kVA or 10kVA solar-powered grid to bridge power supply gaps. Apart from t...
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BREAKING: Tinubu Govt Announces New VAT Exemption On Electric Vehicles, CNG, Others; Tax Reliefs For Deep Offshore Projects
Electric Car, Electric Fleet October 2, 2024 Dotun Comments: 0

BREAKING: Tinubu Govt Announces New VAT Exemption On Electric Vehicles, CNG, Others; Tax Reliefs For Deep Offshore Projects

The government also announced the introduction of the Notice of Tax Incentives for Deep Offshore Oil & Gas Production that provides new tax reliefs for deep offshore projects. President Bola Tinubu’s administration has announced Value Added Tax (VAT) exemption on Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment. The government also announced the introduction of the Noti...
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