President Tinubu’s administration is navigating a complex shift in import tariff policy, moving between temporary “inflation-busting” waivers and new protective levies aimed at boosting local industry.
​After several delays in 2025, the government has officially moved forward with a 15% import duty on petrol (PMS) and diesel.
This policy was scheduled for implementation in the first quarter of 2026.
The administration framed this as a “corrective” measure rather than a revenue-driven one. It is specifically designed to ensure that imported fuel is not significantly cheaper than products from domestic refineries (like the Dangote Refinery), thereby protecting local investments.
​A new customs duty structure has fully taken effect in 2026, making imported vehicles (“Tokunbo”) significantly more expensive.
The 1% Comprehensive Import Supervision Scheme (CISS) has been replaced by a 4% Free-On-Board (FOB) levy.
For used cars, the combination of the 20% import duty, 15% NAC levy, and 7.5% VAT means total clearing costs now hover between 42% and 45% of the vehicle’s value.
​To combat the rising cost of medicine, a significant two-year waiver remains in effect through 2026. Import duties and VAT are suspended for Active Pharmaceutical Ingredients (APIs), essential raw materials, and medical consumables like diagnostic kits and reagents.
This is one of the few areas where tariffs have been actively removed to lower the retail price of life-saving drugs.
If you are an importer, ensure you are using the B’Odogwu platform, the new Nigeria Customs Service system that calculates these updated levies automatically.
