The 62 items exempted from VAT by the FG include gas generators and CNG/LPG dual-fuel vehicles. Check the full list of items below.
The Federal Government (FG) has exempted 62 items from paying Value Added Tax (VAT).
This was revealed by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in a post on X (formerly Twitter) on Friday, 4th October.
Oyedele said the exempted items are contained in an official gazette for the ‘Value Added Tax (Modification) Order, 2024,’ dated 3rd September 2024.
The new development comes barely 48 hours after Hon. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, announced the introduction of concessions aimed at revitalising the oil and gas industry to ensure a boost in Nigeria’s upstream and downstream sectors.
According to Channels TV, the minister unveiled two major fiscal incentives which included VAT Modification Order 2024 and Notice of Tax Incentives for Deep Offshore Oil and Gas Production, in accordance with the Oil and Gas Companies (tax incentives, exemption, remission, etc.) Order 2024.
In the official gazette, the federal government said the provisions of “This order, as they relate to Automotive Gas Oil (AGO) shall be deemed to have commenced on the 1st day of October 2023.”
Below is the full list of 62 items exempted from VAT by the FG:
1. CNG/LPG Dual Fuel Vehicles
2. Dedicated LPG Vehicles and CNG/LPG Dual Fuel Vehicles
3. Parts, and semi-knocked down units (for assembly) of CNG and LPG Buses
4. Parts, and semi-knocked down units (for assembly) of Electric Vehicle
6. Electric Vehicles Battery
7. Electric Vehicle Charging System
8. Electric Vehicle Solar Charging System
9. LPG/CNG Conversion Kits
10. CNG Cylinders
11. CNG Cascades
12. CNG Dispensers
13. Gas Generators
14. CNG Trucks (Bobtails and Bridgers; fixed axle and semi-trailers
15. Steel Pipes
16. Steel Valves & Fittings
17. SS Tubes & Fittings
18. Storage Tanks (all sizes)
Regulators
19. CNG Pumps and Compressors (all types)
20. Steel
21. Pressure Relief Valves
22. Hydraulic press/Rolling machine
23. Heat Treatment Equipment
24. Liquid Level Guage
25. Pumping Housing and Motors
26. Regulator Body
27. Pressure Guage
28. Truck Chassis
29. Metering and Measuring Equipment (including weighbridges, filling scales)
30. Dispensing equipment (dispensing scales, nozzles, gas filling systems)
31. Safety Features (emergency shutoff valves, pressure relief valves, excess flow valves, breakaway couplings, quick release couplings)
32. Gas water heaters
33. Gas burners for industry
34. Gas boilers
35. Gas washing machines and dryers (launderettes) Household or laundry-type washing machines, including machines which both wash and dry
36. CNG, LPG and Cryogenic Hoses Tubes, pipes and hoses, and fittings thereof (for example, joints, elbows, flanges) of plastics
37. CNG truck heads
38. Gas Leak Detectors
39. Gas air conditioners
40. Cylinder refurbishment equipment
41. Blending skid/unit
42. Odourising unit
43. Chromatography unit (GC)
44. LNG Liquefying Equipment, Heat Exchangers, LNG Vapourisers, Regasification Plant, Liquefied CNG Compression Terminals
45. LNG Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters), Weighing Machines, Valves Equipment
46. Cryogenic Storage Tanks, Liquefied CNG Conversion tanks
47. Pipes, Piping Fittings, Flanges used for Liquefied Natural Gas processing
48. Electrical Equipment, including Cables for Liquefied Natural Gas processing
49. Stell Plates, Angles, Bars for Liquefied Natural Gas Processing
50. LNG Related Chemicals
51. Biogas Digester
52. Biogas Compressor
53. Desulphurisation units
54. Dryer
55. Distillation columns for processing biofuels
56. Bio-ethanol refinery equipment
57. Fermentation Tanks
58. Biofuel-related Chemicals, Enzymes and Reagents
59. Liquefied Petroleum Gas
60. Compressed Natural Gas
61. Feed Gas
62. Automotive gas oil
