Customs rolls out 2026 fiscal policy, new tariff regime

¹By Adebola Isimijola, Lagos

The Nigeria Customs Service (NCS) has begun the implementation of the 2026 Fiscal Policy Measures and Tariff Amendments approved by President Bola Ahmed Tinubu, with stakeholders directed to comply fully with the revised customs and excise regulations.

The implementation, announced ony in a statement by the National Public Relations Officer of the Service, Deputy Comptroller of Customs Abdullahi Maiwada, is aimed at strengthening Nigeria’s fiscal and trade policy framework, enhancing revenue generation, promoting industrial growth and aligning the country’s tariff system with regional and international obligations.

Maiwada said the policy introduces wide-ranging amendments to the Customs and Excise Tariff, including the Revised Import Adjustment Tax (IAT) List and the Revised National List under the ECOWAS Common External Tariff (2022–2027), the Revised Import Prohibition List (Trade), the Revised List of Goods Liable to Excise Duty, a Green Tax Surcharge on motor vehicles with engine capacities of 2,000cc and above, and the Revised Export Prohibition List.

He urged importers, exporters, manufacturers, licensed customs agents and other stakeholders to familiarise themselves with the new tariff schedules and comply with all applicable fiscal and regulatory requirements.

According to him, “The approved Fiscal Policy Measures introduce comprehensive amendments to Nigeria’s Customs and Excise Tariff framework to support domestic industrial development, facilitate legitimate trade, and improve the administration of fiscal and tariff policies across the country.”

The Customs spokesman disclosed that the full 2026 Fiscal Policy Measures and Tariff Amendments have been uploaded to the Service’s official website to ensure easy access and transparency, urging stakeholders to study the document carefully.Maiwada reaffirmed the Service’s commitment to trade facilitation, revenue collection and border security, stressing that the success of the new fiscal measures depends on the cooperation of all stakeholders.