Nigerian govt slashes vehicle import levies, introduces Green Tax

The Federal Government’s revised conveyance import levy authorities has officially travel into effect, raising expectations of imaginable reductions successful automobile prices.

However, car dealers question clarification connected the recently introduced Green Tax earlier determining the wide interaction of the policy.

Implemented nether the 2026 Fiscal Policy Measures, the caller statement reduces the import levy connected brand-new vehicles from 20 per cent to 10 per cent, portion the levy connected utilized vehicles has been slashed from 15 per cent to 5 per cent.

The argumentation is intended to little import costs, stimulate economical activities and supply alleviation for businesses and consumers successful the automotive sector.

In summation to the levy cuts, the authorities introduced a Green Tax surcharge connected selected categories of imported vehicles arsenic portion of its biology sustainability agenda.

However, stakeholders successful the automobile manufacture accidental uncertainty surrounding the nonstop operation and outgo implications of the Green Tax makes it hard to find whether consumers volition yet payment from little conveyance prices.

Speaking successful an interrogation with Vanguard, President of the National Association of Motor Dealers and Chief Executive Officer of Mitchel Automobile Limited, Prince Ajibola, described the levy simplification arsenic a invited improvement but stressed that the afloat ...