Customs
Fed Govt Slashes Import Levy on New, Tokunbo Vehicles
By Temitope Adebiyi, Correspondent
The Federal Government has reduced the import levy on new vehicles into Nigeria from 20 percent to 10 percent and on used (Tokunbo) vehicles from 15 percent to 5 percent.
The reduction takes effect today, as part of its 2026 Fiscal Policy Measures.
The move has lowered the cost of vehicle importation, easing the burden on importers and improving access to vehicles for consumers.
According to the government, “Beginning 1st July 2026, the Nigeria Customs Service will implement the Green Tax Surcharge as part of the 2026 Fiscal Policy Measures to support environmental sustainability while also reducing the import levy on new vehicles from 20% to 10% and that of used vehicles from 15% to 5% to ease the cost of vehicle importation.”
The policy forms part of a broader review of Nigeria’s import tariff structure and Customs regime designed to stimulate economic activity and support trade
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