Nigeria is set to introduce a new “green tax” on higher-engine vehicles from July 1, 2026, while simultaneously reducing import duties on key goods such as rice, sugar, palm oil, passenger vehicles, and construction materials. The policy is part of a broader fiscal reform aimed at easing inflation, boosting revenue, encouraging cleaner transportation, and supporting local manufacturing.Related NewsInside Lagos’ Waterfront Housing Crisis Where Development Displaces CommunitiesBandits attack Kogi school, kill vice principal, six-year-old, one otherPower outage hits parts of Abuja, NasarawaIn this explainer, we break down what the new policy means for motorists, car dealers, businesses, and everyday Nigerians, examining whether the promised relief from lower import duties will outweigh the additional costs introduced through targeted taxation and what the changes could mean for the country’s cost-of-living challenges. In this explainer, we break down what the new policy means for motorists, car dealers, businesses, and everyday Nigerians, examining whether the promised relief from lower import duties will outweigh the additional costs introduced through targeted taxation and what the changes could mean for the country’s cost-of-living challenges.