The Federal Government has slashed import levies on new and used vehicles as part of its 2026 Fiscal Policy Measures, which took effect on July 1, in a bid to ease importation costs and improve vehicle access for Nigerians.
Good news for car buyers and importers alike — the Federal Government just made vehicles a little less expensive to bring into the country.
As part of its 2026 Fiscal Policy Measures, which took effect on July 1, 2026, the government has slashed import levies on both new and used vehicles, a move designed to cut importation costs, ease pressure on importers, and improve access to vehicles for everyday consumers.
According to The Nation, the revised policy cuts the import levy on new vehicles from 20 per cent to 10 per cent, while the levy on used vehicles drops from 15 per cent to 5 per cent — a significant reduction that could translate into real savings for buyers.
The changes form part of a broader overhaul of Nigeria’s import tariff structure and customs regime, aimed at stimulating economic activity and boosting trade.
Alongside the levy cuts, the government is also rolling out a new environmental measure. According to the statement, “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.”
For an import market that’s long grappled with high costs and sluggish patronage, this could be the shot in the arm many have been waiting for.
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