Fiscal Policy: 63 Items Exempted From VAT [Full List]

• The federal government of Nigeria has updated the list, as they announce the exemption of some items from the VAT.

• The FG recently revealed that 63 items would not have any Value added Tax on them.

The federal government of Nigeria has updated its fiscal reforms, as they  remove 63 items from being taxed.

This was revealed by the Chairman of the Presidential Committee on Fiscal reforms, Taiwo Oyedele on Friday, October 4.

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Taking to his X handle, Taiwo noted that the exemptions have been outlined in the official ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024.

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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.

This is reportedly the government’s comprehensive attack at reforming the economic significance of the country, while still boosting its revenue.

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, joints, 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