Section 53
Section 53 of 206•Federal Republic of Nigeria
(1) A motor vehicle used solely for private or non-profit purposes Motor
shall not be an asset for the purposes of this Part. vehicles
(2) The exemption under this section shall be limited to not more than
two motor vehicles by an individual in any year of assessment.
Cite this section
Section 53, NIGERIA TAX ACT, 2025.
https://repo.podus.ai/laws/nigeria-tax-act/section/53/