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Cameroon generates an average of XAF140 bln/year from the distribution of oil products

Cameroon generates an average of XAF140 bln/year from the distribution of oil products
  • Comments   -   Monday, 09 December 2019 14:57

(Business in Cameroon) - Every year, Cameroon generates an average of XAF140 billion from the distribution of oil products. This was revealed by the minister of water and energy Gaston Eloundou Essomba, on December 4, 2019, while defending the 2020 budget of his ministerial department before the national assembly.  

This envelope, he explains, is generated from the collection of two main taxes namely, the value-added tax, which appears at least three times in oil products prices’ structures in Cameroon, and the tax on petroleum products.

Let’s note that according to data provided by the ministry of water and energy, by October 28, 2019, there were 835 gas stations in Cameroon. All or part of those stations belong to the 54 companies authorized by the government in this sector.

BRM

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