The Federal Government has slashed import levies on vehicles as part of the 2026 fiscal policy measures, with the levy on new vehicles cut from 20 percent to 10 percent and on used ‘tokunbo’ vehicles from 15 percent to 5 percent, effective July 1, as reported by BusinessDay and PM News.
The relief comes with a counterweight: a Green Tax Surcharge on larger engines, at 2 percent for vehicles between 2,000cc and 3,999cc and 4 percent for engines of 4,000cc and above, per confirmation from the Customs Service reported by Legit.ng. Industry operators estimate clearing costs on affected vehicles could fall substantially, though dealers caution that exchange rates and logistics costs mean showroom prices will adjust more slowly than the duty table.
What it means for shippers
For vehicle importers, the duty calculation on every consignment changed on July 1. The winners are small-engine and used-vehicle imports; large-engine vehicles give some of the saving back through the green surcharge. Correct engine-capacity documentation now directly determines your landed cost. Our clearing desk is already processing vehicles under the new rates and can model the duty on your next consignment before you buy.
Sources: BusinessDay · PM News · Legit.ng
