The Nigerian government, through the Customs Service, has reduced import tariffs on used vehicles from 15% to 5% and new vehicles from 20% to 10% as part of the 2026 fiscal policy.

Comptroller-General Adewale Adeniyi explained that the move aims to improve revenue collection and support trade, but warned it might negatively impact customs revenue.Lawmakers questioned if the reduction would discourage importers from routing goods through neighboring countries like Cotonou.Adeniyi noted the policy implementation started in May and highlighted that the service exceeded its 2025 revenue target of N7.258 trillion, despite challenges like suspended excise duties and global trade disruptions.The 2026 target is N11.074 trillion, with strategies like automating customs processes and expanding trade facilitation programs.The move is seen as a relief for Nigerians, though concerns remain about balancing revenue and trade accessibility.