NewStats: 3,264,934 , 8,185,139 topics. Date: Thursday, 12 June 2025 at 08:58 PM 272o3o

By Tosin Oyediran


The Federal Government has announced the exemption of 63 items from Value-Added Tax (VAT), as part of its latest fiscal reforms.

This was revealed by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, via a post on X (formerly Twitter) on Friday.

The exemptions are outlined in the official ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024.

The announcement follows the recent introduction of fiscal concessions aimed at revitalising Nigeria’s oil and gas sector, as disclosed by the Finance Minister and Coordinating Minister of the Economy, Wale Edun.

The two key incentives unveiled include the VAT modification order and tax reliefs for deep offshore oil and gas production, as per the Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order 2024.

Additionally, the official gazette specifies that the provisions concerning Automotive Gas Oil (AGO) are retroactive, taking effect from October 1, 2023.

Earlier, PUNCH Online reported that President Bola Tinubu may bar revenue-generating agencies from collecting revenues on behalf of the Federal Government as he plans to introduce a single agency—the Nigeria Revenue Service—to handle the task.

This came as the Federal Government instituted a comprehensive set of fresh tax reforms aimed at significantly boosting revenue collection.

In September 2024, FEC approved economic stabilisation bills and proposed 10 changes to spur economic growth.


Here is a full list of the items exempted from VAT:

• CNG/LPG Dual Fuel Vehicles
• Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles
• Parts, and semi-knocked down units (for assembly) of CNG and LPG buses.
• Parts, and semi-knocked down units (for assembly) of Electric Vehicle
• Electric Vehicles
• Electric Vehicles Battery
• Electric Vehicles Charging System
• Electric Vehicle Solar Charging System
• LPG/CNG Conversion Kits
• CNG Cylinders
• CNG Cascades
• CNG Dispensers
• Gas Generators
• CNG Trucks (Bobtails and Bridgers; fixed axle and semi-trailers

• Steel Pipes
• Steel Valves & Fittings
• SS Tubes & Fittings
• Storage Tanks (all sizes)
• Regulators
• CNG Pumps and Compressors (all types)
Steel
•Pressure Relief Valves
• Hydraulic press/Rolling machine
• Heat Treatment Equipment
•Liquid Level Guage
• Pumping Housing and Motors
• Regulator Body
• Pressure Guage
• Truck Chassis

• Metering and Measuring Equipment (including weighbridges, and filling scales)
•Dispensing equipment (dispensing scales, nozzles, gas filling systems)
•Safety Features (emergency shutoff valves, pressure relief valves, excess flow valves, breakaway couplings, quick release couplings)
• Gas water heaters
• Gas burners for industry
• Gas boilers
• Gas washing machines and dryers (launderettes) Household or laundry-type washing machines, including machines which both wash and dry.
• CNG, LPG and Cyrogenic Hoses Tubes, pipes and hoses, and fittings thereof (for example, ts, elbows, flanges) of plastics.
• CNG truck heads
• Gas Leak Detectors
• Gas air conditioners
• Cylinder refurbishment equipment

• Blending skid/unit
• Odourizing unit
• Chromatography unit (GC)
• LNG Liquefying Equipment, Heat Exchangers, • LNG Vapourizers, Regasification
• Plant, Liquefied CNG Compression Terminals
LNG Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters),
• Weighing Machines, Valves Equipment
• Cyrogenic Storage Tanks, Liquefied CNG Conversion tanks
• Pipes, Piping Fittings, and Flanges used for Liquefied Natural Gas processing
• Electrical Equipment, including Cables for Liquefied Natural Gas processing
• Steel Plates, Angles, and Bars for Liquefied Natural Gas Processing
• LNG Related Chemicals
• Biogas Digester
• Biogas Compressor
• De-sulphurization units
• Dryer
• Distillation columns for processing biofuels
• Bio-ethanol refinery equipment
• Fermentation Tanks
• Biofuel-related Chemicals, Enzymes and Reagents

• Liquefied Petroleum Gas
• Compressed Natural Gas
• Feed Gas
• Automotive gas oil

https://punchng.com/full-list-63-items-exempted-from-vat-under-new-fiscal-reforms-by-tinubu/?amp

Well Done MR Taiwo Oyedele!

NRS = HMRS

...

Little or No impact

Are some food items eligible for some VAT exclusions?

There might be a prior list that we aren't aware of.

Nice

What is wrong with this tirubu sef? How many people are using all these things mentioned here? Bring down the cost of PETROL . Nigerians are hungry and angry!

Good news

Check my profile for a sweet & Sharp Toyota Camry 2005 SE.
3.7m

I can't see any food item here.

Kuku kill us
Gettat arraherrrr

Accurate?

No food?
All for the big man....

And Rice

💯 percent zero impact on inflation

Toh

The list is long oo

Audio reversal.

Who this helps?

Mostly Gas related items and Electric vehicle items.

successman100:
No food?
All for the big man....

They know what they are doing. Making life easier for the rich.

E no really reach the masses. Still on still, well done

xristos:
Good news

What is good about this?

hmmm, bureaucracy na bane.

straighttalk:
Little or No impact

No impact at all

Next government will still exempt them

Mandatemovent:
💯 percent zero impact on inflation

Wa se orire (you will make it) for this fact

like the items I see there no really get direct impact on the masses I was expecting to see food item , house hold utensils . Na who done chop go think of all this ones listed above

This committee will be seriously investigated after this government leaves

Okay

Audio as usual

This one is oil and gas ooo.It should be enforced and implemented, because we are good in drafting policies, zero implementation. Next 3 months, customs will tell you they are not aware.