The Federal Government has approved a waiver on import duties for electric vehicles and mass transit buses as part of efforts to cushion inflation driven by the ongoing Middle East crisis on Nigerians and enhance affordability.
The announcement was disclosed in a statement shared via an X post on April 13, 2026, by the Special Assistant to the President on Social Media, Dada Olusegun.
Olusegun explained that the initiative forms part of fresh fiscal policies designed to reduce economic strain on Nigerians and address inflationary pressures following the President’s directive to key economic managers.
He stated that the Federal Government of Nigeria approved a wide range of import duty cuts aimed at reducing inflation, supporting enterprises and making goods more affordable for consumers.
Under the revised policy, import duties on electric vehicles were slashed from five per cent to zero per cent, while mass transit buses equally received full duty exemption from five per cent to zero per cent.
The measures also extend to wider tariff reductions, including passenger vehicles which dropped from 70 per cent to 40 per cent, to support consumers and industries.
According to him, the policy is intended to promote cheaper public transportation and encourage cleaner mobility options.
