FG Rolls Out 2026 Fiscal Policy, Customs Tariff Overhaul

The Federal Government has rolled out the 2026 Fiscal Policy Measures and comprehensive amendments to Nigeria’s Customs and Excise Tariff framework, introducing revised import and export schedules, updated excise duty lists and a new green tax on certain vehicles.

The Nigeria Customs Service (NCS), in a statement issued on Wednesday by its National Public Relations Officer, Assistant Comptroller Abdullahi Maiwada, said the measures were approved by President Bola Tinubu as part of efforts to strengthen Nigeria’s fiscal and trade policy framework.

According to the Service, the new policy is designed to enhance economic competitiveness, improve revenue generation and align Nigeria’s tariff regime with regional and international trade obligations.

“The approved Fiscal Policy Measures introduce 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,” the statement said.

The Customs Service said the new fiscal measures include the Revised Import Adjustment Tax (IAT) List for the implementation of the ECOWAS Common External Tariff (2022–2027), the Revised National List under the ECOWAS Common External Tariff framework, the Revised Import Prohibition List (Trade), the Revised List of Goods Liable to Excise Duty, the Green Tax Surcharge on motor vehicles with engine capacities of 2,000cc and above, as well as the Revised Export Prohibition List.

It urged importers, exporters, manufacturers, licensed customs agents and other stakeholders to familiarise themselves with the amended tariff schedules and ensure full compliance with the new fiscal and regulatory requirements governing their operations.

The Service also announced that the complete 2026 Fiscal Policy Measures and Tariff Amendments have been published on its official website to facilitate seamless implementation and promote transparency.

It encouraged stakeholders across the trade ecosystem to study the document carefully to ensure proper understanding and compliance with the new provisions.

The NCS reaffirmed its commitment to supporting the Federal Government’s economic policies through effective trade facilitation, revenue collection and border security.

It added that the successful implementation of the 2026 Fiscal Policy Measures and Tariff Amendments would depend on the cooperation of importers, exporters, manufacturers and other stakeholders as the government works to build a more competitive, transparent and sustainable economy.