The Federal Government has reduced the import levy on both new and used vehicles as part of its 2026 Fiscal Policy Measures, a move aimed at lowering the cost of vehicle importation, easing the burden on importers and improving access to vehicles for consumers.
The new fiscal measures, which took effect on July 1 2026, form part of a broader review of Nigeria’s import tariff structure and customs regime designed to stimulate economic activity and support trade.
Under the revised policy, the import levy on new vehicles has been reduced from 20% to 10%, while the levy on used vehicles has been cut from 15% to 5% per cent.