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Nigerian govt cuts vehicle import levies, introduces Green Tax
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The Federal Government’s revised vehicle import levy regime has officially come into effect, raising expectations of possible reductions in automobile prices.
However, auto dealers seek clarification on the newly introduced Green Tax before determining the overall impact of the policy.
Implemented under the 2026 Fiscal Policy Measures, the new arrangement reduces the import levy on brand-new vehicles from 20 per cent to 10 per cent, while the levy on used vehicles has been slashed from 15 per cent to five per cent.
The policy is intended to lower import costs, stimulate economic activities and provide relief for businesses and consumers in the automotive sector.
In addition to the levy cuts, the government introduced a Green Tax surcharge on selected categories of imported vehicles as part of its environmental sustainability agenda.
However, stakeholders in the automobile industry say uncertainty surrounding the exact structure and cost implications of the Green Tax makes it difficult to determine whether consumers will eventually benefit from lower vehicle prices.
Speaking in an interview with Vanguard, President of the National Association of Motor Dealers and Chief Executive Officer of Mitchel Automobile Limited, Prince Ajibola, described the levy reduction as a welcome development but stressed that the full impact would depend on the magnitude of the Green Tax.
“We don’t know what the surcharge is going to be. If they reduce the levy on vehicles and then introduce another surcharge, we need to know how much it is before we can say there will be any considerable change,” he stated.
Ajibola noted that although the reduction in levy on used vehicles from 15 per cent to five per cent represents a major concession, the benefit could be neutralised if the Green Tax is substantial.
“If the surcharge is far less than what has been reduced, then it’s a plus. But if it is the same or even higher, then it has not really changed anything,” he explained.
According to him, import duties remain one of the major reasons behind the high cost of vehicles in Nigeria, alongside foreign exchange pressures.
He added that the revised policy could help reduce vehicle prices, especially for commercial vehicles where the tariff adjustment is more significant, provided the Green Tax remains relatively low.
“The development is a very good one. There’s no doubt about that. But to know exactly how it will affect prices, we need to know what the Green Tax is. If it is very little, then the reduction in levies will still be significant and consumers will feel the impact,” Ajibola said.
Industry stakeholders said they would continue monitoring the implementation of the fiscal measures as the Nigeria Customs Service rolls out the revised tariff structure.
They noted that clearer details on the Green Tax would ultimately determine whether the reduction in import levies leads to meaningful price relief for vehicle buyers across the country.
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2027: Wike rallies support for Tinubu In Akpor kingdom, Insists He’II resign as Minister should president lose FCT, Rivers(Photos)
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Friday declared that his political alignment with President Bola Tinubu remains unshakable, rallying the political structure of Rivers State to consolidate support for the President.
”My interest in Rivers State is for God to use me as a vessel to help our people. I am back here not for what I will get, but for what I will be to raise my people”, Wike declared during a strategic consultative meeting with stakeholders of the Akpor Kingdom in Obio-Akpor Local Government, Rivers State, Wike emphasized that politics is driven by the collective interest of the people rather than perpetual animosity.
He also reiterated his decision to resign his position as Minister should President Tinubu lose in Rivers State and the FCT.
The former governor of Rivers State maintained that expanding the political base is essential for delivering democratic dividends.
He said; “there is no permanent enemy in politics what we have is permanent collective interest.
“It is all about the interest of our people. The more you are in number, the happier you become. Leadership is like a waste dustbin. If you cannot absorb things, both the good and the bad, then you cannot be a true leader.”
Reflecting on the political trajectory that led to his appointment as FCT Minister, Wike noted that working with President Tinubu was an extraordinary milestone that defied political convention.
He stressed that his return to grassroots mobilization in Rivers State is aimed at leveraging his position as a vessel to uplift the state and its people.
”You know how difficult, you know how impossible it looked, but he made it possible for us to produce the Minister of the Federal Capital Territory,” Wike told the gathering.
He charged political actors in the state not to be distracted by social media criticism regarding his open-door policy toward former detractors, asserting that true political strength lies in numerical superiority.
In a fiery charge to local leaders, Wike demanded an all-inclusive campaign structure spanning every stratum of society in Obio-Akpor Local Government Area.
He called on traditional rulers, clergy, and community leaders to unite behind a single political direction.
”Obio-Akpor as a whole, whether you are a politician, whether you are a traditional ruler, whether you are a pastor, or whether you are a native doctor, I need everybody now,” he declared.
Wike said further; “Because all of them will vote. For the purpose of voting and elections, we must bring everyone together. ”
Drawing from his political history as the first elected chairman in the history of Obio-Akpor Local Government to win a second term following its creation in 1989, Wike reminded incumbent council leaders that performance and human connection remain the ultimate yardsticks for re-election.
He stated; “I was not elected two times because I was just Chairman.
“I was elected because people felt the impact of governance and because I related with the people. Anywhere, whether for burial or thanksgiving, I was always identifying with them”.
Outlining the electoral roadmap, the FCT Minister highlighted Wards 15, 16, and 17 in Obio-Akpor Local Government as strategic strongholds capable of deciding electoral outcomes across the local council.
”We have over 200 units across three very important wards Ward 15, Ward 16, and Ward 17. These three wards can defeat ten wards in Obio-Akpor. They are three wards with a difference, and you must utilize them to make that difference,” he instructed.
Wike directed local leaders to immediately deploy unit coordinators and door-to-door canvassers across all polling units, urging them to mobilize their immediate families, in-laws, and neighbors to ensure a decisive victory.
Reiterating his loyalty to his constituency, Wike affirmed that he would remain the state’s “Chief Critic” and guide to ensure elected council officers stay accountable to the electorate.
Wike was accompanied by the Rivers State APC governorship candidate, Kingsley Chinda and other political leaders.
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Echoes of Wike ‘na our own ‘ song takes over at ongoing Akpor town hall meeting in Obio/Akpor LGA today (Video)
Echoes of Wike ‘na our own ‘song rent the air at ongoing Akpor town hall meeting at Obio/Akpor LGA in Rivers State today.
Watch clip below:
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Watch moment, traditional rulers present kola to FCT minister Wike at ongoing town hall meeting in Akpor kingdom, Obio/Akpor LGA
A video clip showing traditional rulers presenting kola to FCT minister Nyesom Wike at Akpor in Obio/Akpor LGA in Rivers State has emerged.
Watch:
2027: Wike rallies support for Tinubu In Akpor kingdom, Insists He’II resign as Minister should president lose FCT, Rivers(Photos)
Echoes of Wike ‘na our own ‘ song takes over at ongoing Akpor town hall meeting in Obio/Akpor LGA today (Video)
Watch moment, traditional rulers present kola to FCT minister Wike at ongoing town hall meeting in Akpor kingdom, Obio/Akpor LGA
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