Chief Executive Officer of Gas Initiative Nigeria (GIN), Taiwo Odediran has canvassed prompt removal of duty on imported compressed gas containers.

Addressing a news conference, yesterday, in Ilorin, he said the total duty of 67.5 per cent captured in the Customs and Excise Tariff (CET) is antithetical to growth of the gas economy aspiration of the President Bola Tinubu administration.

His words: “The newly revised Import Adjustment Tax (IAT) of 40 percentage for containers of Compressed and or Liquefied Gas, which has now brought total tariff payable for this item to 67.5 per cent, is making a mockery of and establishing a direct hurdle to the nation’s gas economy aspiration.

“It is a mild statement to state that the tariff is bogus and excessive, thus calling for a prompt review.

“There can be no gas utility without its containment or storage in steel pressure vessels.  Gas container or tank is a compulsory part of any gas utility infrastructure.”

Odediran said it was surprising to stakeholders to discover that gas storage tanks carried the highest taxes in the CET.

He noted that the “bogus” taxes on such crucial items could not drive the economic sector of any nation positively.