Business: FG Approves 2026 Tariff Reforms, Customs Begins Implementation

Business:
FG Approves 2026 Tariff Reforms, Customs Begins Implementation

The Customs Service said the amendments are designed to facilitate legitimate trade while improving the administration of fiscal and tariff policies across the country.

Nigeria-Customs-Service-headquater-in-Abuja
File photo of Nigeria Customs Service office in Abuja.

The Federal Government has approved the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments, with the Nigeria Customs Service (NCS) announcing the commencement of the new framework aimed at strengthening Nigeria’s fiscal and trade policies.

The reforms, approved by President Bola Tinubu, introduce changes to the country’s Customs and Excise Tariff framework to promote economic competitiveness, support domestic industrial development, improve revenue generation and align Nigeria’s tariff regime with regional and international obligations.

The announcement was made in a statement on Wednesday by the National Public Relations Officer of the Nigeria Customs Service, Deputy Comptroller Abdullahi Maiwada.

According to the statement, the new fiscal measures include a revised Import Adjustment Tax (IAT) List for the implementation of the ECOWAS Common External Tariff (2022–2027); a revised National List under the ECOWAS Common External Tariff, an updated Import Prohibition List (Trade), a revised list of goods liable to excise duty, a Green Tax surcharge on motor vehicles with engine capacities of 2,000cc and above, as well as a revised Export Prohibition List.

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The Customs Service said the amendments are designed to facilitate legitimate trade while improving the administration of fiscal and tariff policies across the country.

It urged importers, exporters, manufacturers, licensed customs agents and other stakeholders to familiarise themselves with the revised tariff schedules and ensure full compliance with the applicable fiscal and regulatory requirements.

“Importers, exporters, manufacturers, licensed customs agents, and other stakeholders are required to familiarise themselves with the provisions of the amended tariff schedules and ensure full compliance with the applicable fiscal and regulatory requirements governing their respective transactions,” the statement read.

To ensure a smooth rollout, the Service said the complete 2026 Fiscal Policy Measures and Tariff Amendments have been published on its official website for public access.

The Customs Service encouraged stakeholders to study the document carefully to ensure compliance with the approved fiscal measures and tariff amendments.

The service said it would continue to fulfil its mandate of trade facilitation, revenue collection and border security.

It added that the successful implementation of the reforms would depend on the cooperation of all stakeholders in the trade ecosystem to build “a more competitive, transparent, and sustainable economy.”