Nigeria to Introduce Vehicle Recycling Fee to Boost Economy

The Nigerian government is set to implement a compulsory vehicle recycling fee in 2026 to enhance the country's automotive sector. The fee, proposed by the Nigerian Automotive Design and Development Council (NADDC), aims to modernize Nigeria's auto recycling market and generate an annual revenue of 150 billion naira.

This move comes as Nigeria's vehicle import market rebounds strongly, with imports valued at over 1 trillion naira. The initiative seeks to ensure responsible disposal of end-of-life vehicles and reduce environmental impact, reflecting efforts to boost the economy and promote sustainable practices in the automotive industry.