The Federal Government has reduced import tariffs on used vehicles from 15 per cent to five per cent and on brand-new vehicles from 20 per cent to 10 per cent.
The Comptroller-General of the Nigeria Customs Service, NCS, Adewale Adeniyi, stated this on Monday when he appeared before the House of Representatives Committee on Customs and Excise duties to defend the service’s 2026 budget proposal.
The Comptroller-General disclosed that the policy implementation began in May.
Adeniyi said the revised excise tariffs on vehicles were contained in the 2026 fiscal policy measures.
He said while the new policy was expected to improve revenue generation, the reduction in vehicle tariffs could negatively impact collections.
“We have the new excise tariff, which is provided in the 2026 fiscal policy. We believe that these measures will increase our revenue collection.
“Conversely, tariffs on vehicles and levies on vehicles have been reduced significantly.
“For used vehicles, it has been reduced from 15 percent to five percent, and for brand-new vehicles, the tariffs have been reduced from 20 percent to 10 percent. So we believe that this is something that may also negatively affect revenue,” Adeniyi said.
Alex Mascot, a lawmaker from Abia, questioned whether the reduction would be enough to discourage importers from routing cargo through neighbouring countries.
“If five percent has been reduced from the fee that is paid when you import goods into the country, why then do people still move their goods to Cotonou? I am aware that a lot of importers are discouraged from bringing their goods into the country because of the high tariffs.”
Leke Abejide, chairman of the committee, described the tariff review as a relief for Nigerians.
“So, I want the general public to know that the Nigerian government is doing something good for the public.
“People have been clamouring for this, and it has happened. So, we should clap for the federal government. We should commend President Bola Ahmed Tinubu for doing this for the public,” he said.
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