The Federal Government has officially greenlit the 2026 Fiscal Policy Measures, bringing significant changes to Nigeria's import landscape. Most notably, the effective tariff on passenger motor vehicles and four-wheel drives has been slashed from 70% to 40%. While the policy introduces a "Green Tax Surcharge" on tobacco and alcoholic beverages, the reduction in car duties is aimed at easing the transportation burden for the middle class and logistics companies.
🤔 Question Board
Will a 30% reduction in import duties actually make cars affordable, or will the exchange rate still keep them out of reach?
💡 Suggestion Note:
If you are planning to import a vehicle, wait for the official customs circular to hit the ports this week to ensure you get the new 40% rate.