The Federal Government’s revised import levy on new and used vehicles has taken effect as part of the 2026 Fiscal Policy Measures aimed at reducing the cost of vehicle importation and supporting economic activity.
Under the new regime, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles has been cut from 15 per cent to five per cent.
The changes form part of a broader revision of Nigeria’s import tariff structure.
The policy is intended to lower the cost of importing vehicles, ease the financial burden on importers and, potentially, improve access to vehicles for consumers.
