…forfeiture of three aircraft linked to Sayyu Dantata over alleged ₦2.31 billion unpaid import dutyDisputed duty implies aircraft worth about ₦46.3 billion, based on Customs’ five per cent rate, not an independent valuationFederal High Court hearing is scheduled to continue on October 22, 2026; no forfeiture order has b…

…showed up in the form of higher collection by Customs because, for every one dollar of import duty before, at N460, it became one dollar at N1,004, N1,003, N1,005. The NRS, Petroleum Profit Tax that it collected before, same dollar, higher amount in naira. So, the savings showed up in the Federation accounts by way of…

…showed up in the form of higher collection by Customs because, for every one dollar of import duty before, at N460, it became one dollar at N1,004, N1,003, N1,005. “The NRS, Petroleum Profit Tax that it collected before, same dollar, higher amount in naira. So, the savings showed up in the Federation accounts by way of…

…policy, which allowed qualified importers to bring in the affected commodities at zero import duty and other associated levies.Although the 2024 measure was presented as a temporary intervention, subsequent fiscal and tariff reforms have altered the import regime.In 2026, the government introduced broader tariff change…

…Income Tax, CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax, Import Duty and CET Levies increased significantly while Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees decreased considerably. Excise Duty increased only marginally.” From the N2.55tn distributable revenue, the Fed…

…Income Tax, CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax, Import Duty and CET Levies increased significantly while Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees decreased considerably. Excise Duty increased only marginally.” From the N2.55tn distributable revenue, the Fed…

…of the Nigeria Customs Service, Bashir Adeniyi, on Monday disclosed that the value of Import Duty Exemption Certificate approvals granted by the Federal Government on selected imported goods and equipment rose to N34tn in 2025, warning that such fiscal incentives have significantly reduced the service’s revenue-generat…

…of Representatives Committee on Customs and Excise. Adeniyi announced a reduction in import duty on used vehicles from 15 per cent to 5 per cent, while brand-new vehicles dropped from 20 per cent to 10 per cent. He said that it was to cushion the Green Tax Surcharge impact and promote cleaner vehicles. According to him…

…fiscal policies promoting local production of healthcare products, which reduced import duty and VAT collections on medical imports. He also cited the presidential initiative on compressed natural gas, CNG, and electric vehicles, which reduced revenue from imports, as well as the high volume of imports covered by impor…