While the VAT exemption represents a positive stride, it Is imperative to enact policies and strategies that directly tackle the fundamental causes of diesel price oscillations. Diversifying the country’s energy sources, advancing energy efficiency practices, and bolstering local refining endeavours stand as crucial initiatives in reducing Nigeria’s dependency on diesel and achieving enduring price stability. His statement reflects the hope and optimism of many players in the industry who are awaiting the commencement of local diesel production. Stakeholders along the Nigerian diesel value chain have said that the 7.5% value-added tax (VAT) waiver granted by President Bola Ahmed Tinubu on October 1, 2023, is a short-term relief, especially for the manufacturing sector. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. These are the project’s quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
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