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Nigeria slashes Customs duties by up to 50% on imported vehicles ahead of new Green Tax SurchargeThe Green Tax Surcharge targets vehicles with engines over 2,000cc to reduce carbon emissionsLuxury SUVs and sports cars face new taxes while electric vehicles remain exempt
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s Federal Government has announced a major reduction in Customs duties on imported vehicles, cutting rates by as much as 50 per cent ahead of the rollout of a new Green Tax Surcharge targeting vehicles with large-capacity engines.
The move is designed to cushion the impact of the environmental levy while encouraging cleaner transportation and easing the cost burden on vehicle importers.
Nigeria slashes import duties on imported cars, but introduces a green tax on large-engine vehicles. Credit: NovatisSource: Getty Images
Customs Duties slashed by half
In a directive that took effect ahead of the
