The presidency has listed items exempted from the increased Value Added Tax (VAT) as outlined in the Finance Act 2019. According to Vice President Yemi Osinbajo’s media aide Laolu Akande, these items include locally produced sanitary pads, food additives, and table water. The Finance Act aims to ensure that the cost of living does not rise for Nigerians due to changes in the VAT. President Muhammadu Buhari signed the Act into law on January 13, 2020, along with the 2020 Appropriation Bill. The new Act raises VAT from 5% to 7.5% and introduces several measures to promote fiscal equity and support small and medium-sized businesses. The Act also includes exemptions for basic food items, locally manufactured sanitary towels, pads, or tampons, services rendered by microfinance banks, and tuition related to education at all levels. Additionally, the Act provides incentives and tax breaks for certain categories of businesses and individuals. With the new Act in place, certain imported goods now face excise duties similar to locally manufactured goods.