Nigeria Cuts Import Tariffs on Essentials in 2026 Policy

Nigeria's Federal Government announced sweeping changes to its import tariff regime on April 1, 2026, reducing duties on essential commodities and industrial inputs to bolster economic growth and curb inflation. The 2026 Fiscal Policy Measures, signed by Minister of Finance and Coordinating Minister of the Economy Wale Edun, revise taxes across 127 tariff lines and replace the 2023 framework, aligning with the Economic Community of West African States Common External Tariff for 2022-2027.

The policy lowers costs for key imports to make food and materials more affordable amid persistent price pressures. Bulk rice now faces a 47.5 percent duty, down from 70 percent, while broken rice drops to 30 percent from the same level. Crude palm oil's import adjustment tax falls to 28.75 percent from 35 percent, raw sugar to 55 percent from 70 percent, and refined sugar to 57.5 percent from 70 percent. Refined salt duties decrease to 55 percent from 70 percent. In the automotive sector, tariffs on fully built passenger vehicles, including SUVs and station wagons, are cut to 40 percent from 70 percent. Industrial materials see adjustments too: zinc-coated and aluminum-coated steel sheets...