By Chika Okeke
President Bola Tinubu has approved the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments reforms, expected to bolster Nigeria’s fiscal and trade policy framework, promote economy and enhance revenue generation.
This followed the import duties paid on essential items like food, medicine, and vehicles, as well as the need to support local manufacturing by reducing the tariff on raw materials and machineries.
In a bid to align the nation’s tariff regime with regional and international obligations, the Nigeria Customs Service, NCS, has commenced the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments.
The measures introduced comprehensive amendments to Nigeria’s Customs and Excise Tariff framework to support domestic industrial development, facilitate legitimate trade, and improve the administration of fiscal and tariff policies across the country.
National Public Relations Officer of NCS, Abdullahi Maiwada said on Thursday in Abuja, that the amendments captured the Revised Import Adjustment Tax (IAT) List for the implementation of the ECOWAS Common External Tariff (2022–2027) and Revised National List for the implementation of the ECOWAS Common External Tariff (2022–2027).
Also, the Revised Import Prohibition List (Trade); Revised List of Goods Liable to Excise Duty; Green Tax Surcharge on motor vehicles with engine capacities of 2000cc, and Revised Export Prohibition List.
To this end, 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.
Maiwada advised the stakeholders to visit the official website of the NCS for detailed information on the reforms.
The Service remains committed to supporting government policies while fulfilling its mandate of trade facilitation, revenue collection, and border security.
He disclosed that successful implementation of the framework requires the cooperation from all stakeholders in the trade ecosystem in order to build a more competitive, transparent, and sustainable economy.
