Nigeria updates import ban to cover cement, fertiliser and 15 other goods
Wale Edun has announced new import restrictions targeting cement, fertiliser, soaps, and several other goods. The Federal Government’s updated policy, approved by the President, aims to protect domestic industries and reduce reliance on imports. The revised measures introduce new excise duties, import adjustment taxes, and a phased reduction of certain levies. The policy has drawn criticism from the World Bank, which warns that such bans may hinder economic growth and inflation control.
TLDR
- The Federal Ministry of Finance, led by Wale Edun, issued a circular updating the import prohibition list to 17 categories, including cement, soaps, fertiliser, poultry, meat, vegetable oils, sugar, cocoa products, tomatoes, beverages, medicaments, detergents, paper products, glass bottles, steel products, and ballpoint pens.
- The new measures were approved under the “2026 Fiscal Policy Measures and Tariff Amendments” and took effect from April 1, 2026, with a 90-day grace period for compliance.
- An Import Adjustment Tax was introduced on 192 tariff lines, to be gradually reduced annually from January 2027 until full elimination by 2036, except for certain products.
- Excise duties, including a green tax surcharge, will start from July 1, 2026.
- The World Bank, in its Nigeria Development Update: May 2025 and April 2026 editions, advised Nigeria to ease import bans and tariffs to boost customs revenue, control inflation, and support economic recovery.
