import duty

The Digest: The federal government has approved new fiscal policy measures for 2026, slashing import duties on cars, crude palm oil, sugar, and rice. Fully built passenger vehicles now attract 40% total effective tariff, down from 70%. Crude palm oil dropped to 28.75% from 35%, while rice and...

The Digest: President Bola Tinubu has approved a 15% import duty on petrol and diesel, a move expected to push the pump price of petrol above N1,000 per litre for most Nigerians. According to the Daily Post, the new duty will add nearly N100 to the current cost of a litre, increasing the...

The Digest: The Federal Ministry of Finance has ordered the immediate suspension of the Nigeria Customs Service’s contentious 4% Free on Board (FOB) charge on imports. According to a directive from Minister Wale Edun, the move follows significant stakeholder pressure and aims to ease the...

The Digest: The Nigeria Customs Service Board has announced a new policy setting a $300 de minimis threshold, making imports at or below this value exempt from customs duties and taxes. Effective Monday, September 8, the measure aims to simplify trade, support e-commerce, and align with global...