₦airaland Forum

Federal government has reduced import levy on new vehicles 🚗 into Nigeria 🇳🇬 from 20% to 10% and that of used vehicles from 15% to 5% in order to ease cost of vehicle importation. The reduction takes effect today.

Vehicle Import Levy Reduction Takes Effect As New Fiscal Measures Commence

The Federal Government’s revised import levy on new and used vehicles has taken effect as part of the 2026 Fiscal Policy Measures aimed at reducing the cost of vehicle importation and supporting economic activity.

Under the new regime, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles has been cut from 15 per cent to five per cent.

The changes form part of a broader revision of Nigeria’s import tariff structure.

The policy is intended to lower the cost of importing vehicles, ease the financial burden on importers and, potentially, improve access to vehicles for consumers.

https://www.tvcnews.tv/vehicle-import-levy-reduction-takes-effect-as-new-fiscal-measures-commence/

OFFICIAL: The reduction of import levy on new vehicles from 20% to 10% and that of used vehicles from 15% to 5% in order to ease cost of vehicle importation by commences today.

@DOlusegun

If true, it's good but the FG will use another means to collect what they claim has been reduced

I hope this news is not fake news.

We should hold election every year, after making life miserable for people. APC is gone. Let me laugh aloud. Custom will still not implement it.

slivertongue:
If true, it's good but the FG will use another means to collect what they claim has been reduced

You grab am. It's well. To order car now na wahala. Many people dey push their old jalopees up and down .

Nawa Nlfpmod. Make I order 2020 Highlander be dat.

slivertongue:
If true, it's good but the FG will use another means to collect what they claim has been reduced

Fortune teller, stop attributing your bad character onto others.

Very welcome news.. good one for the importers

slivertongue:
If true, it's good but the FG will use another means to collect what they claim has been reduced

Why not simply commend Goodnews and move on! Must you display negativity on everything?

You guys should grow up!

Ofodirinwa:
Fortune teller, stop attributing your bad character onto others.

Don’t mind that silly fellow..

Why don't you post proof from a government verified site or account

Until then.
For now, it is still good news

slivertongue:
If true, it's good but the FG will use another means to collect what they claim has been reduced

This has been on since April I think and the prices of cars are still on the rise

A fantastic and long-overdue initiative—slashing car duties will definitely ease the burden on everyday citizens. However, it’s quite telling that it took this government over 3 years of crushing economic pressure to finally implement a pro-people policy. It feels like too little, too late. If the 2027 elections are truly free and fair, they’ll find out that Nigerians have long memories, and a last-minute tariff cut won't automatically erase years of hardship at the ballot box

ogododo:
Federal government has reduced import levy on new vehicles 🚗 into Nigeria 🇳🇬 from 20% to 10% and that of used vehicles from 15% to 5% in order to ease cost of vehicle importation. The reduction takes effect today.

https://x.com/i/status/2072338432131793055

Yet the car dealers keep reaping people off their hard earned money in this difficult time

They should mandate the car dealers to reflect it in their car ssles

ozo13:
This has been on since April I think and the prices of cars are still on the rise

Exactly

Still on the rise

What is the greed all about?

You go still lose election.

We'll meet at the polls, Emilokan go confirm am .

Custom is different from government.

Only those that import cars can actually verify if this is being implemented or audio.

The car dealers will still refuse to reduce prices of vehicles despite the duty reduction. Just like the petroleum marketers and refiners are refusing to reduce prices of petroleum products despite reduction in global crude oil price.

Now that the African Continental Free Trade Area (AfCFTA) is about to kick off.. most Nigerian businesses will beg on their knees for patronage but won't get.. Nigerians won't buy from them anymore and of course other African countries won't patronize their overpriced goods.
With "One African market' coming into force, let's see how MOMAN and likes will survive. I want to see how Dangote will force Nigerians to buy his 12k per bag cement when 6-7k cement from other countries will be freely available in the market.

One those good news that we will use to injured the opposition and their supporters before the election

How are they going to tell the Nigerians that have benefited, experienced the good policies and reforms by this government that this government hasn't done a thing without receiving a dirty slap

iwaeda:
We should hold election every year, after making life miserable for people. APC is gone. Let me laugh aloud. Custom will still not implement it.

Be adding crying emojis to your comments as there is nothing funny about it

Hope you understand the meaning of laughing on something not funny

Hope nairaland car dealers would take note and reduce the prices of their cars.

Are they tired of growing naija and the naira already? Useless people !

This is a good news, price of cars to drop .

https://www.youtube.com/watch?v=DJ_uVPtd-50?si=HgGscpAwFwaHpnb4

Story story

U gat's to give God glory ooo

Ice prince

A lower import levy sounds positive, but Nigerians don't buy cars based on levy alone. Exchange rates, import duty, VAT, port charges, shipping costs, and dealer pricing still determine what buyers pay. The real test is whether vehicle prices actually fall in the market—not just whether a percentage was reduced on paper.

ogododo:
Federal government has reduced import levy on new vehicles 🚗 into Nigeria 🇳🇬 from 20% to 10% and that of used vehicles from 15% to 5% in order to ease cost of vehicle importation. The reduction takes effect today.



https://www.tvcnews.tv/vehicle-import-levy-reduction-takes-effect-as-new-fiscal-measures-commence/



@DOlusegun

Please, what is the implication of this?

How much will a car that costs N15m now cost with this introduction?

Xender2016:
This is a good news, price of cars to drop

Reducing the import levy is one part of the cost of importing a vehicle, but it doesn't automatically mean cars will become much cheaper. Import duty, customs processing fees, VAT, exchange rates, port charges, shipping costs, and dealer markups also affect the final price. The real impact will depend on how the policy is implemented and whether importers pass any savings on to consumers. It's worth waiting to see the official gazette or customs directive and how prices change in practice before concluding that vehicle costs will significantly decrease.

ogododo:
Federal government has reduced import levy on new vehicles 🚗 into Nigeria 🇳🇬 from 20% to 10% and that of used vehicles from 15% to 5% in order to ease cost of vehicle importation. The reduction takes effect today.



https://www.tvcnews.tv/vehicle-import-levy-reduction-takes-effect-as-new-fiscal-measures-commence/



@DOlusegun

The news is contradictory.

It says duty reduced from 20% to 10%, while the chart shows from 70% to 40%

What are we to believe?

Pls clarify. I am not being a critic.

Unstable policies all the time

Gotocourt:
You go still lose election.

Azuka, dey play.
With your 5% votes?

IyaTola:
Reducing the import levy is one part of the cost of importing a vehicle, but it doesn't automatically mean cars will become much cheaper. Import duty, customs processing fees, VAT, exchange rates, port charges, shipping costs, and dealer markups also affect the final price. The real impact will depend on how the policy is implemented and whether importers pass any savings on to consumers. It's worth waiting to see the official gazette or customs directive and how prices change in practice before concluding that vehicle costs will significantly decrease.

If the duty reduction actually reduces the landing cost of cars, importers would have no choice but to pass on the benefits to buyers. That is what competition is for.