Nigerian Govt Announces New Tariffs And Cuts Duty On Rice, Cars, Drugs And Sugar.

The Federal Government of Nigeria has approved the 2026 Fiscal Policy Measures, cutting tariffs across 127 items  from rice and sugar to vehicles, steel products, and key industrial machinery  to stimulate growth.

Signed by Finance Minister Wale Edun on April 1, 2026 the policy replaces the 2023 FPM and introduces lower Import Adjustment Taxes, including 28.75% on crude palm oil, and slashes tariffs on fully built vehicles from 70% to 40%. 

Importers with Form M opened before April 1 get a 90‑day grace period to use old rates.
A new excise duty and green tax surcharge will begin July 1, 2026, with exemptions for EVs, mass‑transit buses, vehicles below 2000cc, and locally manufactured units.