{"id":1689,"date":"2026-07-08T10:15:32","date_gmt":"2026-07-08T10:15:32","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=1689"},"modified":"2026-07-08T13:16:30","modified_gmt":"2026-07-08T13:16:30","slug":"nigeria-customs-targets-n11trn-revenue-2026-announces-lower-tariffs-on-imported-vehicles","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=1689","title":{"rendered":"Nigeria Customs targets N11trn revenue 2026, announces lower tariffs on imported vehicles"},"content":{"rendered":"<p><strong><em>*Bashir Adewale Adeniyi, Comptroller-General of the Nigeria Customs Service announces the country&#8217;s import duty on used vehicles has been reduced from previous 15 percent to five percent while the rate for new vehicles is not 10 percent<\/em><\/strong><\/p>\n<p>Isola Moses | ConsumerConnect<\/p>\n<p>The Federal Government of Nigeria has disclosed reductions in import duties on both new and used vehicles under its 2026 fiscal policy measures.<\/p>\n<p><em>ConsumerConnect<\/em> reports Mr. Bashir Adewale Adeniyi, Comptroller-General of the Nigeria Customs Service (NCS) disclosed these tariff reviews Monday, July 6, 2026, while defending the NCS 2026 Budget proposal before the House of Representatives Committee on Customs and Excise at the National Assembly (NASS), Abuja, FCT.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"dHJshjFWvM\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=1727\">CBN clarifies all N100 banknotes remain legal tender for transactions<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cCBN clarifies all N100 banknotes remain legal tender for transactions\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=1727&amp;embed=true#?secret=x4WrW6Gtp4#?secret=dHJshjFWvM\" data-secret=\"dHJshjFWvM\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Adeniyi said the import duty on used vehicles being imported into Nigeria had been lowered from 15 percent to five per cent, whereas the rate for brand-new vehicles had been cut from 20 percent to 10 percent.<\/p>\n<p>The Comptroller-General of Customs also noted the revised tariff regime forms part of the Nigerian Government\u2019s broader fiscal policy for 2026, expected to support economic activity.<\/p>\n<p>However, it is noted that the new tariff regime could reduce Customs revenue from vehicle imports into the West African country.<\/p>\n<p>In his presentation to the Federal Legislators, Adeniyi explained: \u201cWe have the new excise tariff, which is provided in the 2026 fiscal policy.<\/p>\n<p>&#8220;We believe that these measures will increase our revenue collection.<\/p>\n<p>\u201cConversely, during the same tariff measures that were given to us, tariffs on vehicles and levies on vehicles have been reduced significantly.&#8221;<\/p>\n<p>The Customs Chief Executive further stated: &#8220;For used vehicles, the tariff has been reduced from 15 percent to 5 percent, and for brand-new vehicles, from 20 percent to 10 percent. &#8220;So, we believe that this is something that may also negatively affect revenue.&#8221;<\/p>\n<p><strong>What lawmakers say<\/strong> <strong>on market realities <\/strong><\/p>\n<p>Commenting on the implementation of the latest tariff reviews on both used and new vehicles at the session, Alex Mascot (Abia State) questioned whether the reduction would be sufficient to discourage importers from diverting cargo through neighbouring ports, particularly Cotonou, Benin Republic.<\/p>\n<p>The Federal legislator said: \u201cIf five percent has been reduced from the fee that is paid when you import goods into the country, why then do people still move their goods to Cotonou?\u201d<\/p>\n<p>Mascot contended that high import charges had long pushed several traders to clear their goods outside Nigeria.<\/p>\n<p>He urged the Customs to assess whether the new policy would address the challenge or otherwise.<\/p>\n<p>In response to the lawmaker&#8217;s remarks, Adeniyi said implementation of the revised tariff structure actually commenced May 2026.<\/p>\n<p>Speaking during the session, Hon. Leke Abejide (APC, Kogi), Chairman of the Committee, welcomed the policy.<\/p>\n<p>Abejide describing the new tariff regime as a positive step for Nigerian consujers.<\/p>\n<p>Several citizens have consistently demanded lower vehicle import duties and commended President Bola Ahmed Tinubu\u2019s administration for approving the reduction.<\/p>\n<p><strong>Presentation of 2025 Budget performance card<\/strong><\/p>\n<p>Presenting the NCS 2025 revenue performance to the lawmakers, revealing that the Service generated \u20a67.258 trillion between January and December last year, thereby surpassing the NASS-approved target.<\/p>\n<p>According to him, the figure exceeded the annual target by \u20a61.153 trillion, representing an 18.89 percent increase.<\/p>\n<p>Adeniyi also explained despite the strong performance recorded during the period, stating that several government policies constrained revenue collection during the year.<\/p>\n<p>These included the suspension of excise duty on telecommunications services, the continued suspension of the proposed green tax introduced in 2023, and fiscal incentives aimed at encouraging local production of healthcare products, which reduced customs duty and Value Added Tax (VAT) collections on imported medical items<\/p>\n<p>He added that the presidential initiative promoting Compressed Natural Gas (CNG) and electric vehicles also reduced revenue from imports in those sectors of the Nigerian economy.<\/p>\n<p>The Customs Chief said revenue was further affected by the large volume of imports granted concessions through Import Duty Exemption Certificates (IDEC), VAT orders, and Schedule II of the Common External Tariff (CET).<\/p>\n<p>Adeniyi disclosed that imports valued at \u20a634.538 trillion benefited from various revenue waivers in 2025.<\/p>\n<p>Petroleum products accounted for 56.40 percent of the concessions, military imports made up 40.52 percent, whilst IDEC and other qualifying imports represented the remaining 3.08 per cent.<\/p>\n<p>He also cited disruptions to global trade caused by the Russia-Ukraine war, particularly its impact on wheat imports into Nigeria.<\/p>\n<p><strong>2026 NCS revenue projections<\/strong><\/p>\n<p>The Nigeria Customs Service projects \u20a611.074 trillion revenue 2026.<\/p>\n<p>Looking ahead, the Customs Service is targeting \u20a611.074 trillion in revenue for the 2026 fiscal year.<\/p>\n<p>Adeniyi said the projection comprises \u20a65.542 trillion for the federation account, \u20a61.491 trillion in non-federation revenue, \u20a62.773 trillion from import VAT, and \u20a61.266 trillion from free-on-board (FOB) collections.<\/p>\n<p>To achieve the target, he said the Service would accelerate the deployment of the Unified Customs Information System (UCIS), also known as B\u2019Odogwu, to automate Customs operations and improve efficiency.<\/p>\n<p>Other strategies include expanding post-clearance and real-time audits to strengthen compliance, extending the Authorised Economic Operator (AEO) and advance rulings programmes to facilitate trade, deploying geospatial technology and joint border patrols to combat smuggling, and deepening engagement with stakeholders.<\/p>\n<p>According to him, the implementation of the new excise tariff regime, the planned reintroduction of the green tax, and other fiscal measures would strengthen revenue generation despite uncertainties in global trade arising from geopolitical tensions involving the United States, Israel, and Iran.<\/p>\n<p>As regards the proposed expenditure of the NCS, the Customs Service is proposed&nbsp; an expenditure of \u20a61.235 trillion for the 2026 fiscal year. According to Mr. Adeniyi, the budget will be financed through \u20a6949.86 billion from the four percent FOB allocation, \u20a655.47 billion from its two per cent share of VAT revenue, and \u20a6230.04 billion earmarked for ongoing capital projects.<\/p>\n<p>The proposed spending includes \u20a6421.70 billion for personnel costs, \u20a6307.77 billion for overheads, and \u20a6565.93 billion for capital expenditure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*Bashir Adewale Adeniyi, Comptroller-General of the Nigeria Customs Service announces the country&#8217;s import duty on used vehicles has been reduced from previous 15 percent to&hellip;<\/p>\n","protected":false},"author":2,"featured_media":984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"Bashir Adewale Adeniyi, Comptroller-General of Nigeria Customs Service","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,8],"tags":[],"class_list":["post-1689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-regulators"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc.png",672,360,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc-300x161.png",300,161,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc.png",672,360,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc.png",672,360,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc.png",672,360,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/06\/Bashir-Adewale-Adeniyi-Nigeria-Customs-Service-cc.png",672,360,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"<a href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=8\" rel=\"category\">Regulators<\/a>","tag_info":"Regulators","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1689"}],"version-history":[{"count":4,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1689\/revisions"}],"predecessor-version":[{"id":1741,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1689\/revisions\/1741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/984"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}