The Federal Government has rolled out a revised vehicle import levy regime under the 2026 Fiscal Policy Measures, reducing costs for importers while introducing a new Green Tax aimed at promoting environmental sustainability.
Under the new tariff structure, levies on brand-new vehicles have been slashed from 20% to 10%, while used vehicles now attract just 5%, down from 15%.
Officials say the policy is designed to ease import costs, stimulate economic activity, and provide relief for businesses and consumers in the automotive sector.
However, auto dealers remain cautious, citing uncertainty over the Green Tax surcharge.
Prince Ajibola, President of the National Association of Motor Dealers, told Vanguard that while the levy reduction is welcome, its impact depends on the size of the new surcharge.
“If the surcharge is far less than what has been reduced, then it’s a plus. But if it is the same or even higher, then it has not really changed anything,” Ajibola explained.
He noted that high import duties and foreign exchange pressures remain key drivers of vehicle prices in Nigeria.
The revised policy, he said, could lower costs, especially for commercial vehicles if the Green Tax is kept minimal.
Industry stakeholders are closely monitoring the Nigeria Customs Service’s rollout of the new tariff structure, stressing that clarity on the Green Tax will determine whether consumers ultimately benefit from lower vehicle prices.
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