FG Introduces 2026 Fiscal Policy, Slashes Tariffs on Vehicles, Food Items, Steel, Others - Newstrends
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FG Introduces 2026 Fiscal Policy, Slashes Tariffs on Vehicles, Food Items, Steel, Others

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Minister of Finance and Coordinating Minister of the Economy, Wale Edun
Minister of Finance and Coordinating Minister of the Economy, Wale Edun

FG Introduces 2026 Fiscal Policy, Slashes Tariffs on Vehicles, Food Items, Steel, Others

The Federal Government has released its 2026 Fiscal Policy Measures (FPM), introducing sweeping changes to import duties across multiple sectors, including vehicles, food commodities, industrial materials, and machinery, in a move aimed at boosting economic activity and easing cost pressures.

According to an official circular dated April 1, 2026, and signed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the new framework replaces the 2023 fiscal policy regime and establishes a revised national tariff schedule covering 127 tariff lines.

The government said the policy is designed to stimulate trade, support industrial growth, and improve affordability of essential goods, while also encouraging investment in local production capacity.

Major Tariff Cuts Across Key Sectors

Under the new structure, import duties on fully built passenger vehicles, including SUVs and station wagons, have been reduced to a total effective rate of 40%, down from about 70% under previous regimes.

Crude palm oil now attracts an effective tariff of 28.75%, while several food and consumer items also saw reductions, including rice, sugar, and salt.

Key revised rates include:

  • Rice (above 5kg packaging): 47.5%
  • Broken rice: 30%
  • Raw cane sugar: 55%–57.5%
  • Refined salt: 55%
  • Margarine: 40%

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The policy also reduces tariffs on construction and household goods such as envelopes, notebooks, ceramic tiles, and steel products, aimed at lowering input costs for manufacturers and developers.

Industrial and Infrastructure Materials

Significant reductions were also recorded in the industrial sector. Steel products such as zinc-coated sheets, steel coils, and rods now attract 35% duties, down from 45%, while certain machinery and equipment categories have been reduced to 0%–10% tariffs.

These include:

  • Railway locomotives (SKD/CKD): 0%
  • Cargo ships above 500 tonnes: 0%
  • Agricultural machinery: 0%
  • Medical and industrial equipment: 5%–10%

Officials say these changes are aimed at improving infrastructure development, manufacturing competitiveness, and healthcare access.

Transition Measures and New Tax Framework

To ease implementation, the government approved a 90-day grace period for importers who opened Form M before April 1, allowing them to clear goods at previous tariff rates.

However, authorities also announced that a new excise duty framework and green tax surcharge will take effect from July 1, 2026, as part of broader environmental and revenue reforms.

The green tax policy will target emissions-linked consumption patterns, although exemptions include:

  • Electric vehicles
  • Vehicles below 2000cc
  • Mass transit buses
  • Locally manufactured vehicles under specific tariff headings

Policy Objectives and Economic Impact

The Finance Ministry said the reforms are intended to balance revenue generation with economic relief, while aligning Nigeria’s trade policy with regional and global standards.

Analysts say the tariff cuts could help reduce import costs and ease inflationary pressure on consumers, but may also increase competitive pressure on local manufacturers who depend on protective tariffs.

The fiscal framework is part of broader reforms under the Tinubu administration to reposition Nigeria’s economy through tax restructuring, trade liberalisation, and industrial policy adjustments.

FG Introduces 2026 Fiscal Policy, Slashes Tariffs on Vehicles, Food Items, Steel, Others

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Heavy rainfall triggers deadly landslides in Cross River, five confirmed dead

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Heavy rainfall triggers deadly landslides in Cross River, five confirmed dead

Heavy rainfall triggers deadly landslides in Cross River, five confirmed dead

At least five people, including four children, have been confirmed dead after devastating landslides triggered by 48 hours of torrential rainfall struck the Ikot Anwatim community in Calabar Municipality, Cross River State, destroying homes, injuring residents and displacing several families.

The tragic incident, which has thrown the community into mourning, also left two other residents injured and destroyed two residential buildings, according to the Cross River State Emergency Management Agency (CR-SEMA).

The agency confirmed the casualties during a rapid assessment of the affected area conducted on Saturday by its Director-General, Efa Nyong, alongside officials of the disaster management unit of the Nigerian Red Cross Society.

Speaking during the assessment, Nyong conveyed the condolences of the Cross River State Government to the bereaved families and described the deaths—particularly those of the four children—as heartbreaking.

He assured victims that the state government would provide humanitarian support while working with relevant agencies to assist affected families and reduce the impact of future disasters.

“This assessment will document the disaster’s impact to guide government decisions on emergency assistance and long-term disaster risk reduction,” Nyong said.

He urged residents living in communities vulnerable to landslides and erosion to promptly report visible land cracks, monitor changes in the terrain and comply with evacuation directives whenever issued by emergency authorities.

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According to him, climate-related disasters are becoming increasingly frequent and severe, making it necessary for governments, communities and humanitarian organisations to strengthen disaster preparedness, early warning systems and public awareness.

Nyong noted that the rapid assessment reflected CR-SEMA’s commitment to proactive disaster response, coordinated emergency management and the protection of lives and property across the state.

The assessment team recommended the immediate provision of relief materials, temporary shelter and humanitarian assistance for affected families, as well as continued medical care for the injured survivors.

It also called for a comprehensive geotechnical assessment of the affected area to determine the stability of the terrain and recommend long-term engineering solutions to prevent similar disasters.

In addition, the team advocated intensified public sensitisation on the dangers of landslides, improved environmental management and the possible relocation of residents living in high-risk areas as the rainy season continues.

An affected resident, Bassey Patrick, commended the emergency response team for arriving promptly despite the difficult conditions.

He appealed for urgent government intervention, saying many families had not only lost loved ones but also their homes and means of livelihood.

“We have lost our children, our neighbours and our homes. We need urgent assistance because many families have nowhere to stay,” he said.

The tragedy comes as the Nigerian Meteorological Agency (NiMet) has repeatedly warned of above-normal rainfall and increased risks of flooding, landslides and erosion in several parts of the country during the 2026 rainy season. Emergency management experts have urged residents in vulnerable communities to remain alert and heed official weather advisories to minimise casualties.

Environmental experts say uncontrolled development on fragile hillsides, poor drainage systems, deforestation and the effects of climate change have increased the frequency of landslides in parts of southern Nigeria. They have called for stricter enforcement of environmental regulations, improved urban planning and sustained investment in erosion-control infrastructure.

The latest disaster adds to a growing list of weather-related emergencies recorded across Nigeria this year, underscoring the urgent need for stronger disaster preparedness, climate resilience and coordinated emergency response at all levels of government.

Heavy rainfall triggers deadly landslides in Cross River, five confirmed dead

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Former okada rider excretes 100 wraps of methamphetamine after arrest at Lagos airport

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Former okada rider excretes 100 wraps of methamphetamine after arrest at Lagos airport

Former okada rider excretes 100 wraps of methamphetamine after arrest at Lagos airport

The National Drug Law Enforcement Agency (NDLEA) has arrested a former commercial motorcyclist, popularly known as an okada rider, after he allegedly excreted 100 wraps of methamphetamine he swallowed in Uganda in an attempt to smuggle the illicit drug into Nigeria.

The arrest, described by the anti-narcotics agency as another breakthrough in its fight against transnational drug trafficking, was disclosed in a statement issued on Sunday by the NDLEA’s Director of Media and Advocacy, Femi Babafemi, and shared on the agency’s official X account.

According to the agency, the suspect had worked as an okada rider in Lagos for about 15 years before allegedly joining an international drug trafficking syndicate in search of better financial opportunities.

The NDLEA said intelligence gathered by its operatives led to the suspect’s interception shortly after he arrived at the Murtala Muhammed International Airport (MMIA), Ikeja, on a commercial flight from Uganda.

Preliminary investigations revealed that the suspect allegedly ingested 100 wraps of methamphetamine before boarding the flight to Nigeria, hoping to evade airport security and anti-drug screening procedures.

Following his arrest, the suspect was placed under medical observation by NDLEA officers, where he reportedly excreted all 100 wraps of the suspected illicit substance over a monitored period. The agency said the recovered exhibits have been secured while forensic examination and further investigations continue.

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Investigators believe the suspect was working for a transnational drug trafficking network operating across East and West Africa. The NDLEA said efforts are ongoing to identify and apprehend other members of the criminal syndicate, including those who recruited him and those expected to receive the drug consignment in Nigeria.

Reacting to the incident, the NDLEA said the suspect’s attempt to improve his financial status through drug trafficking ended in failure.

In a post on its official X account, the agency stated:

“After 15 years of working as an okada rider in Lagos, this individual decides he needed to forcefully upgrade and change his social status by joining a transnational drug trafficking organisation.”

“That dream has not only crumbled now but is ending in premium tears following his arrest at the Lagos airport by NDLEA officers after excreting a whopping 100 wraps of methamphetamine he ingested in far away Uganda.”

The anti-narcotics agency also released a video showing aspects of the arrest and recovery process, describing the operation as evidence of its sustained intelligence-led strategy against international drug trafficking.

The latest arrest comes amid intensified surveillance by the NDLEA at Nigeria’s airports, seaports and land borders as the agency continues to dismantle drug trafficking syndicates using the country as a transit route or destination for illicit narcotics.

The agency has repeatedly warned Nigerians against participating in drug trafficking, noting that criminal organisations often lure unsuspecting individuals with promises of quick financial gains, only for them to face arrest, prosecution and possible imprisonment.

Security experts say the use of human couriers who swallow illicit drugs remains one of the most dangerous methods employed by international drug traffickers because of the significant health risks involved, including poisoning, internal injury and death if the drug packages rupture inside the body.

The suspect is expected to be charged in court after investigations are concluded in accordance with the provisions of the NDLEA Act and other applicable laws governing drug-related offences in Nigeria.

Former okada rider excretes 100 wraps of methamphetamine after arrest at Lagos airport

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Notorious Bandit Leader Kachalla Sani Yellow Killed in Zamfara

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Notorious Bandit Leader Kachalla Sani Yellow Killed in Zamfara
Notorious bandit leader Kachalla Sani Yellow

Notorious Bandit Leader Kachalla Sani Yellow Killed in Zamfara

Notorious bandit leader Kachalla Sani Yellow has been killed in Zamfara State in what marks another significant development in the fight against banditry in Nigeria’s North-West.

The feared gang leader, who was linked to a series of deadly attacks, kidnappings and cattle rustling operations across parts of Zamfara State, was reportedly killed in Anka Local Government Area.

However, conflicting accounts have emerged over the circumstances surrounding his death.

One report claimed that Sani Yellow was ambushed and shot dead at Dan Jibga Market by gunmen allegedly loyal to rival bandit kingpin Dogo Gide. The incident is believed to be connected to the growing power struggle among criminal gangs operating in the state, as rival factions continue to battle for dominance.

Another account attributed his death to a coordinated offensive by Nigerian security forces, supported by members of the Maiduguri Special Vigilantes deployed to reinforce ongoing counter-banditry operations in Zamfara. The operation was said to be part of sustained efforts to dismantle armed groups and eliminate high-profile criminal commanders.

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Kachalla Sani Yellow was widely regarded as one of the most influential bandit commanders in the Anka, Bukkuyum and Maru axes of Zamfara State. He was allegedly responsible for numerous attacks on rural communities, mass abductions for ransom, cattle rustling and violent raids that displaced thousands of residents.

His death is expected to weaken the operational capacity of his network, although security analysts have warned that splinter groups may launch reprisal attacks or seek to reorganise under new leadership.

As of the time of filing this report, Nigerian security agencies had yet to issue an official statement confirming the exact circumstances surrounding the bandit leader’s death.

Security operations have, however, continued across Zamfara and neighbouring states as authorities intensify efforts to dismantle remaining criminal networks and restore peace to communities affected by years of armed violence.

Notorious Bandit Leader Kachalla Sani Yellow Killed in Zamfara

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