FG Slashes Import Tariffs on Cars, Rice, Palm Oil in Major 2026 Policy Shift
The Federal Government of Nigeria has approved sweeping tariff reductions on key imports—including vehicles, rice, palm oil, and sugar—as part of its newly introduced 2026 fiscal policy framework.
In a circular signed by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, the government confirmed that the new measures will replace the 2023 fiscal guidelines.
The policy is designed to stimulate economic growth, ease cost pressures, and support critical sectors across the country. Analysts say the move could impact food prices, boost trade activity, and reshape Nigeria’s import dynamics in the coming months.
