Customs rolls out 2026 fiscal policy measures, tariff amendments

By Onu Okorie

Nigeria Customs Service NCS has announced the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments, following approval by President Bola Ahmed Tinubu, as part of the Federal Government’s push to strengthen the country’s fiscal and trade policy framework.

In a statement, the Service said the measures are designed to boost economic competitiveness, enhance revenue generation, and align Nigeria’s tariff regime with regional and international obligations.

The approved policy introduces sweeping changes to the Customs and Excise Tariff framework aimed at supporting local industry, easing legitimate trade, and improving the administration of fiscal and tariff policies nationwide.

Key amendments include a revised Import Adjustment Tax (IAT) List and a revised National List, both tied to the implementation of the ECOWAS Common External Tariff (2022–2027). Also included are an updated Import Prohibition List for trade, a revised list of goods liable to excise duty, and a revised Export Prohibition List.

Notably, the new measures introduce a Green Tax Surcharge targeting motor vehicles with engine capacities of 2000cc and above.

The NCS has called on importers, exporters, manufacturers, licensed customs agents, and other stakeholders to familiarise themselves with the amended tariff schedules and ensure compliance with the applicable fiscal and regulatory requirements guiding their operations.

To support a smooth rollout and encourage transparency, the Service said the full document detailing the 2026 Fiscal Policy Measures and Tariff Amendments has been made available for download, and urged stakeholders to study it closely.

The Customs Service reaffirmed its commitment to backing government policy while carrying out its core mandate of trade facilitation, revenue collection, and border security, stressing that successful implementation would depend on cooperation across the trade ecosystem.

“We collectively work to build a more competitive, transparent, and sustainable economy,” the Service said.