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The short answer
A Nigerian quotation should show your business name, CAC number and Tax ID, the customer, a quote number and date, each item with quantity and price, VAT at 7.5% if you are VAT-registered, the total, how long the price holds, delivery and payment terms. When the customer accepts, raise an invoice that carries the section 153 particulars.
Quotation template (copy and fill in)
| Field | What to enter | Example (illustrative) |
|---|---|---|
| Title | "Quotation" | Quotation |
| Quote number | Unique, in sequence | QT-2026-0217 |
| Date | Date issued | 17 Oct 2026 |
| Valid until | Date the price expires | 31 Oct 2026 |
| Supplier | Name, address, phone, email | [Zaria Solar Installers Ltd], [address] |
| CAC number | RC or BN number | RC [0000000] |
| Tax ID | 13-digit Tax ID | [0000000000000] |
| Customer | Name, address, contact person | [St Mark's School], [Bursar] |
| Customer reference | Their request or tender number | RFQ 44 |
| Items | Description, quantity, unit, unit price, line total | See items table below |
| Subtotal | Before VAT | ₦2,400,000.00 |
| VAT | 7.5% if VAT-registered, on its own line | ₦180,000.00 |
| Total | Subtotal plus VAT | ₦2,580,000.00 |
| Delivery or completion | Lead time from acceptance | 10 working days after deposit |
| Payment terms | Deposit, balance, due dates | 60% deposit on acceptance, 40% on completion |
| Exclusions | What is not included | Civil works, roof repairs |
| Warranty | If any | [12 months on workmanship] |
| Acceptance | Signature, name, date, or a purchase order | [ ] |
Items table (illustrative)
| # | Description | Qty | Unit price (₦) | Line total (₦) |
|---|---|---|---|---|
| 1 | Solar panels, [spec] | 8 | 150,000 | 1,200,000 |
| 2 | Inverter, [spec] | 1 | 600,000 | 600,000 |
| 3 | Batteries, [spec] | 2 | 200,000 | 400,000 |
| 4 | Installation and cabling | 1 | 200,000 | 200,000 |
| Subtotal | 2,400,000 | |||
| VAT at 7.5% | 180,000 | |||
| Total | 2,580,000 |
Filled example (text version)
Quotation QT-2026-0217, dated 17 October 2026, valid until 31 October 2026. From Zaria Solar Installers Ltd (RC 0000000, Tax ID 0000000000000) to St Mark's School, for RFQ 44: supply and installation of eight solar panels, one inverter and two batteries, with cabling. Subtotal ₦2,400,000; VAT at 7.5% ₦180,000; total ₦2,580,000. Terms: 60% deposit on acceptance, balance on completion, work completed 10 working days after the deposit. All names and figures are illustrative.
Terms to print at the bottom of every quote
- Prices are in naira and valid until [date]. After that, prices may change.
- [Prices include / exclude] VAT at 7.5%.
- Work begins on receipt of the deposit and signed acceptance or purchase order.
- Delivery dates run from the date the deposit is received.
- Any change to the scope will be quoted separately in writing.
- Payment by bank transfer to [account name, bank, number] only. We will never ask you to pay into a different account by phone or message.
- Title to goods passes on full payment.
For pricing and deposit terms, see how to price your products, supplier payment terms and taking deposits.
Pricing with imported inputs
If your costs depend on imported equipment, a long validity period is risky. Either keep validity short (seven to fourteen days), or state that prices for listed imported items may be revised if the cost to you changes before the deposit is paid, and say how you will show the change. Do not quote in foreign currency to a Nigerian customer without taking advice; quote in naira.
If a customer accepts after the validity date, confirm in writing that the original prices still apply, or send a revised quote with a new number, before you start work.
From quote to invoice
A quotation is not a tax document. Once accepted, issue an invoice. If you are VAT-registered, section 153 of the Nigeria Tax Act 2025, as summarised by Mondaq and InvoiceGenerator.ng, requires a VAT invoice showing:
- Supplier's Tax ID
- Sequential invoice number
- Supplier's name and address
- Supplier's CAC registration number
- Date of supply
- Purchaser's name
- Gross transaction amount
- VAT charged and the rate
Put the quote number on the invoice so the customer can match them. Our invoice template has every field. Where the NRS has deployed its Electronic Fiscal System for your business, section 23 of the Tax Administration Act 2025 requires taxable supplies to be recorded and reported through it.
Quoting to companies and government
- Include your Tax ID on every quote. Section 8 of the Tax Administration Act 2025 makes a Tax ID a condition for contracts with federal, state and local government bodies.
- PwC's summary of the reforms notes a ₦5 million penalty for awarding contracts to unregistered entities, so expect corporate buyers to check your registration before accepting.
- Expect the buyer to deduct withholding tax where it applies, and price with that cash-flow effect in mind.
Checklist before you send a quote
- The customer's name and reference are correct.
- Every line has a quantity, unit and unit price, and the arithmetic adds up.
- VAT is shown, or the quote says clearly that VAT does not apply.
- Validity date, delivery time and payment terms are filled in.
- Exclusions are listed, so there is no argument later about what was included.
- Your account details match the business name on the quote.
- You have saved a copy under the quote number.
Where Pryme fits
A Pryme Business Account includes invoicing, so an accepted quote can become an invoice, and bank-transfer checkout for the deposit. Once paid, you or the customer can generate a verifiable receipt with VerifyDoc.ai.
Questions people ask
Is a quotation legally binding in Nigeria?
A quotation is usually an offer. It becomes binding when the customer accepts it on its terms, often by signing or issuing a purchase order, within the validity period.
Should I add VAT to a quotation?
If you are VAT-registered and the supply is taxable, show VAT at 7.5% on its own line so the customer knows the full cost.
What is the difference between a quotation and a proforma invoice?
A quotation offers a price; a proforma invoice is a draft invoice, often used to request a deposit. Neither replaces the final VAT invoice.
How long should a quotation be valid?
There is no legal rule. Seven to thirty days is common; keep it short if your costs depend on imports or volatile prices.
Sources
- Mondaq, Examination of the VAT provisions under the Nigeria Tax Act 2025 · accessed Oct 2026
- InvoiceGenerator.ng, VAT invoice format in Nigeria: required fields (s.153 NTA 2025) · accessed Oct 2026
- Nigeria Tax Administration Act 2025 (Official Gazette) · accessed Oct 2026
- PwC Nigeria, The Nigeria tax reform Acts: top 20 changes to know · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.