The Federal Government has revised its list of restricted imports, adding cement, fertiliser, soaps and several other products, increasing the total number of affected categories to 17.
This update was contained in a circular from the Federal Ministry of Finance, endorsed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, following presidential approval of the 2026 fiscal policy framework.
Titled “Approval for the Implementation of the 2026 Fiscal Policy Measures and Tariff Amendments,” the circular indicated that the new policy took effect on April 1, 2026, in line with the ECOWAS Common External Tariff.
According to the document, “This is to confirm that His Excellency, Mr President, has approved the implementatiAon of the 2026 Fiscal Policy Measures made up of Supplementary Protection Measures (SPM)… with effect from 1st April 2026.”
The ministry noted that the import restrictions target goods coming from countries outside the ECOWAS bloc, forming part of efforts to strengthen trade protection.
“The approved SPM, in line with the provision of the ECOWAS CET, comprises… Import Prohibition list (Trade), applicable only to certain goods originating from non-ECOWAS Member States. It consists of 17 items,” the circular stated.
Annex III of the document lists the affected goods, which include poultry (live, frozen or processed), pork, beef and other meat products such as carcasses and offal; eggs except those meant for breeding or research; refined vegetable oils (excluding linseed, castor and olive oil); packaged sugar; cocoa products; tomatoes in all forms; and non-alcoholic beverages with sweeteners.
Other items on the list are bagged cement, various medicaments and pharmaceutical waste, fertilisers containing nitrogen, phosphorus and potassium, soaps and detergents, paper and carton materials, large glass bottles, certain steel products, as well as ballpoint pens and related parts.
Additionally, the circular introduced an Import Adjustment Tax covering 192 tariff lines, with a plan for gradual removal in line with Nigeria’s obligations under the African Continental Free Trade Area.
It stated, “With effect from January 2027, all Import Adjustment Taxes except for products on the African Continental Free Trade Area 3 per cent list, shall be gradually reduced on an annual basis until full elimination to 0 per cent by 2036.”
The government also disclosed that new excise duties, including a green tax, will commence on July 1, 2026, with a 90-day grace period granted for compliance.
“A grace period of ninety (90) days commencing from the date of this circular is hereby granted to all importers, manufacturers, and service providers before the implementation of the new excise duty rates,” it added.
It further clarified that goods backed by valid import documentation before April 1, 2026, could be cleared under the previous rules within the grace period, while transactions initiated after that date would be subject to the new regime.
“However, any new import transaction entered from the 1st of April 2026 shall be subjected to the new import duty regime,” the circular stated.
The updated measures replace the 2023 fiscal policy framework and are expected to be formally gazetted as part of efforts to support local industries and cut import dependence.
Meanwhile, the World Bank has consistently advised Nigeria to reconsider its import restriction policies to enhance competitiveness. In its Nigeria Development Update: May 2025, the institution projected that removing import bans and tariff distortions could raise customs revenue by 66 per cent.
It also warned that restrictive trade policies often encourage evasion and weaken revenue collection. “The government should consider seizing the opportunity created by the market-reflective, competitive exchange rate to reorient trade policy for growth and jobs.
“Nigeria maintains higher-than-average tariffs on many products, bans the imports of others, and imposes many non-tariff barriers. The average tariff rate in the country is twice as high as the sub-Saharan average,” the report read.
In its April 2026 edition of the Nigeria Development Update, the World Bank reiterated concerns, cautioning that broad import bans could undermine efforts to control inflation and stimulate growth.
The report urged authorities to relax certain trade restrictions, particularly on food and industrial inputs, to improve supply and ease price pressures.
Specifically, it stated that policymakers should “reduce import tariffs and lift import bans for selected products, particularly food and key intermediate inputs,” noting that such reforms would help ease supply constraints and moderate inflationary pressures.
The bank added that stringent import restrictions, including bans and surcharges, have driven up production costs and consumer prices, especially in sectors dependent on imported raw materials such as agriculture and manufacturing.
(PUNCH)
