Ruvidan Associates Ltd

12/07/2026

Nigeria is set for a major digital transformation as the FG moves to link every house to NIN through a long-awaited nationwide digital postcode system. Details in comments.

12/07/2026

Car dealers express mixed reactions over lower vehicle import duties
Some car dealers have expressed mixed reactions to the Federal Government’s revised tariff regime, which includes a reduction in import duties on vehicles.

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The dealers spoke to the News Agency of Nigeria (NAN) on Sunday in Abuja.
They said that the policy would reduce vehicle prices, lower business costs and benefit buyers, but noted that its overall impact would depend on other economic factors, including exchange rates.
NAN recalls that the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi, announced the revised import duties while defending the service’s 2026 budget proposal before the House 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, the revised tariff regime forms part of the Federal Government’s broader 2026 fiscal policy and is expected to support economic activities.

Mr Ayoade Olamilekan, Chief Executive Officer of Lekjam Auto Nig ltd described the policy as a positive move that would increase the purchasing power of average Nigerians in getting vehicles.

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Olamilekan, however, said although implementation of the directive commenced in May, lower vehicle prices would be reflected in the next two to three months, as existing orders were made at previous rates.
Mr Olusegun Oketoyin of OloruntoFunmi Motors also commended the Federal Government’s decision, but said dealers would need to sell their old stock purchased before the tariff revision before buyers could benefit from the reduced duties.

12/07/2026

05/05/2026

In a recent news on Daily Post, Nigerian filling stations have reduced the pump price of Premium Motor Spirit (petrol) across several locations in Abuja, just 24 hours after implementing an upward review that pushed prices higher nationwide.

05/05/2026

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28/04/2026

The PUNCH reports that the war in the Middle East triggered an oil price surge when the Strait of Hormuz was blocked by Iran. From $66 per barrel on February 28, Brent, the global benchmark for crude, jumped above $100 a barrel.

As a result, Dangote raised its petrol gantry price from N774 to N1,200 as of the time of filing this report. The oil price hike also affected diesel and aviation

22/04/2026

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22/04/2026

Today's Headlines: ADC Leadership Dispute: Supreme Court Reserves Judgment; PRP Woos Bala Mohammed

18/04/2026

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