HeadlineNews

Tinubu Approves 2026 Customs Tariff Reforms, NCS Rolls Out New Fiscal Policy Measures

Importers, exporters and manufacturers urged to comply as revised ECOWAS tariff schedules, excise duties and green tax take effect……

The Nigeria Customs Service (NCS) has commenced the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments approved by President Bola Tinubu, introducing a series of changes aimed at strengthening Nigeria’s trade and fiscal framework.

The Service said the new measures are designed to improve economic competitiveness, boost government revenue, support local industries and align Nigeria’s tariff system with its regional and international trade commitments.

Announcing the development in a statement on Wednesday, the National Public Relations Officer of the NCS, Abdullahi Maiwada, said the reforms introduce wide-ranging adjustments to the country’s tariff and excise regime to enhance trade facilitation and improve the administration of fiscal policies.

According to him, the approved amendments cover several key areas, including the revised Import Adjustment Tax (IAT) List for the implementation of the ECOWAS Common External Tariff (2022–2027), the updated National List under the ECOWAS Common External Tariff framework, a revised Import Prohibition List (Trade), an updated list of goods subject to excise duty, and a revised Export Prohibition List.

The measures also introduce a Green Tax surcharge on motor vehicles with engine capacities of 2,000cc and above as part of the government’s broader fiscal reforms.

Maiwada advised importers, exporters, manufacturers, licensed customs agents and other stakeholders to familiarise themselves with the revised tariff schedules and ensure that all transactions comply with the new fiscal and regulatory requirements.

To support a smooth transition, he said the complete 2026 Fiscal Policy Measures and Tariff Amendments have been published on the official website of the Nigeria Customs Service for public access.

He urged stakeholders across the trade ecosystem to study the document carefully to ensure full compliance with the approved changes.

“The Service remains committed to supporting government policies while fulfilling its mandate of trade facilitation, revenue collection and border security,” Maiwada said.

He added that effective implementation of the new fiscal measures would require collaboration among all stakeholders, noting that collective compliance is essential to building a more competitive, transparent and sustainable trading environment for Nigeria.

Opeyemi Owoseni

Opeyemi Oluwatoni Owoseni is a broadcast journalist and business reporter at TV360 Nigeria, where she presents news bulletins, produces and hosts the Money Matters program, and reports on the economy, business, and government policy. With a strong background in TV and radio production, news writing, and digital content creation, she is passionate about delivering impactful stories that inform and engage the public.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *