Business News of Monday, 13 July 2026
Source: www.punchng.com
Licensed agents operating at the ports have termed the Green Tax Surcharge introduced by the Nigeria Customs Service a positive development and said it will go a long way towards addressing climate change.
The agents made the remarks a few days after the Federal Government, through the Nigeria Customs Service, formally commenced implementation of the policy on 1 July 2026.
It is worth recalling that the Nigeria Customs Service has sustained its nationwide awareness campaign on the implementation of the Green Tax Surcharge and related fiscal measures, which came into effect on 1 July 2026.
The initiative aims to promote environmental sustainability, reduce carbon emissions, and encourage the importation of cleaner vehicles into the country, in line with global environmental standards.
In his reaction, Mr Uche Ejesieme, a retired senior officer of the Nigeria Customs Service who is now a freight forwarder, described the policy as a good development, saying, “So, it’s a good development. And don’t forget that most countries all over the world are more invested in producing fossil fuels for electric vehicles. So, I believe that it has to do with environmental factors. You know, because initially, people don’t seem to really understand the importance of that. So, I think it’s actually a policy meant to help our environment as well.
Even though I am not an environmental scientist, I know that most countries are going for electric vehicles and abandoning fossil fuels. So, I think it’s a good development. Because, you know, the issues of climate change could be attributed to all these kinds of flooding and the type of devastation you see all over the world. So, I think it has to do with environmental factors.”
Also speaking, the maritime research group, Sea Empowerment and Research Centre, maintained that while environmental sustainability remains an indispensable component of modern economic governance, the implementation of environmental fiscal measures must be carefully balanced against trade facilitation, industrial competitiveness, investor confidence, and Nigeria’s obligations under international trade agreements.
SEREC, in a document signed by its Head of Research, Mr Eugene Nweke, obtained by The PUNCH, explained that the current discourse should extend beyond the immediate concerns regarding implementation timelines to a broader examination of the policy’s economic implications, legal foundations, institutional readiness, and potential impact on Nigeria’s international trade ecosystem.
According to the body, environmental taxation has become an internationally recognised policy instrument for encouraging environmentally responsible production and consumption.
The group added that across advanced and emerging economies, “green taxes are primarily designed to reduce carbon emissions, discourage pollution, promote cleaner technologies, and support national climate commitments.”
“However, international experience demonstrates that environmental taxes achieve their intended objectives only when they are supported by clear implementation frameworks, adequate stakeholder consultation, transparent assessment methodologies, and corresponding incentives that encourage behavioural change rather than merely increasing the cost of doing business. Nigeria must therefore ensure that its Green Tax Policy is perceived as an environmental reform mechanism rather than another revenue generation initiative,” SEREC stated.

