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FULL LIST: 63 items exempted from VAT under new fiscal reforms by Tinubu
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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, our heritage reporter 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, 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
News
Gombe Rep Yaya Bauchi Tongo dies
Yaya Bauchi Tongo, a member of House of Representatives representing Gombe/Kwami/Funakaye Federal Constituency of Gombe State is dead.
Rep Tongo died in Abuja on Friday following a brief illness, the spokesperson for the House of Representatives, Akintude Rotimi said in a statement quoting the Gombe State Caucus of the House of Representatives.
While paying tribute to the late lawmaker, Rotimi said his death marked the end of a distinguished life devoted to public service and the advancement of his constituents, Gombe State, and the Federal Republic of Nigeria.
“Rep. Tongo was a dedicated public servant, seasoned grassroots politician, and committed legislator whose life was marked by unwavering service to his people and the nation,” Rotimi said.
The deceased lawmaker served as Chairman of Funakaye Local Government Area, Special Adviser to the Government of Gombe State, and Member of the Gombe State House of Assembly before his election into House of Representatives.
He was Chairman of the Nigeria–United Arab Emirates Parliamentary Friendship Group in the House of Representatives.
“A respected voice within the Parliament and a passionate advocate for the welfare and development of his constituents, Hon. Tongo brought wisdom, experience, and a deep understanding of governance to legislative deliberations. His contributions to nation-building and democratic development will remain an enduring part of his legacy.
“On behalf of the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD, GCON, the leadership, and the entire membership of the House, we extend our heartfelt condolences to his immediate family, the people of Gombe/Kwami/Funakaye Federal Constituency, and the Government and people of Gombe State on this painful loss.
“As we mourn the passing of our dear colleague, we pray that Almighty Allah (SWT) forgives his shortcomings, accepts his good deeds, and grants him Aljannatul Firdaus. We also pray that Allah (SWT) grants his family, loved ones, constituents, and colleagues the strength and fortitude to bear this irreparable loss,” Rotimi said.
He added that further details regarding parliamentary tributes and funeral arrangements will be communicated in due course.
News
My father’s detention shows Nigeria’s democracy far from complete – El-Rufai’s son
A member of the House of Representatives from Kaduna North and Chairman, Committee on Banking Regulations, Mohammed Bello El-Rufai, has disclosed that his father, Nasir El-Rufai’s continued detention shows that Nigeria’s democratic journey is far from complete.
Bello noted that democracy can only thrive in Nigeria when the country’s leadership is accountable.
El-Rufai has been in custody of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, since he was arrested at the Abuja airport earlier in the year.
The commission had arraigned him for corruption while he was governor of Kaduna State.
However, posting on X, Bello wrote: “Today, we celebrate the enduring strength of our democracy and the collective voice of the Nigerian people. Democracy thrives when leadership is accountable, citizens are empowered, and every voice is heard.
“As we commemorate this important day, we must also acknowledge that while our democracy continues to endure, the abuse of citizens’ rights remains a troubling reality.
“The true test of any democracy is not simply the conduct of elections, but its commitment to the rule of law, due process, and the protection of fundamental freedoms.
“The continued unlawful detention of my father, Mallam Nasir El-Rufai, alongside the experiences of many other Nigerians who have faced similar violations, serves as a reminder that our democratic journey is far from complete.
“On this Democracy Day, let us recommit ourselves to building a nation where justice prevails, institutions are strengthened, and the rights of every citizen are respected and protected.”
News
NDC: Dickson, Obi hold closed door meeting amid internal crises
The National Leader of the Nigerian Democratic Congress, NDC, Senator Seriake Dickson, on Friday held a closed-door meeting with the party’s presidential candidate, Peter Obi, amid recent crises in the party.
Dickson made this known in a statement on his official X handle, revealing that the meeting, which lasted nearly three hours, was attended by Obi and other senior party leaders.
“I just received my brother, colleague, and partner in the New Nigerian Project, His Excellency Mr Peter Gregory Obi, CON, our presidential candidate, who, together with some distinguished leaders of our party, held a closed-door meeting which lasted about three hours.
“In the course of that meeting, we reviewed the activities of our party and discussed a few recent issues that have been a source of concern to all sides, and we amicably resolved all the issues.
“We have always been on the same page on the bigger picture, i.e., winning the elections for all candidates of our party and rescuing Nigeria from the misgovernance of the APC-led government. However, a few issues have arisen, and we have agreed on how to handle them moving forward.
“I want to use this opportunity again to call on all members of our party to stop the bickering and name-calling and focus on the bigger picture.
“Both His Excellency Peter Obi and I, as well as other leaders and stakeholders of our party, will continue to consult and engage with one another to address and resolve concerns, strengthen the unity and cohesion of our party, and ensure that we remain focused on our shared mission of rescuing Nigeria and building a better future for all.”
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