A cost analysis circulating online has estimated that importing a 2023 Toyota Camry 2.5-litre Hybrid into Nigeria in July 2026 would result in a total landed cost of approximately ₦25.84 million after shipping charges, customs duties, taxes and other import-related fees are added to the vehicle’s purchase price.
The breakdown, presented in a spreadsheet-based import calculator, uses a Free on Board (FOB) vehicle price of ₦15 million and outlines the estimated expenses incurred from the point of export in Ningbo, China, to final clearance in Lagos. The shipment is projected to take between 35 and 45 days.
According to Brandspur Brand News, overseas shipping is estimated at ₦3 million, while marine insurance is calculated at ₦180,000, bringing the Cost, Insurance and Freight (CIF) value to ₦18.18 million. The CIF figure serves as the basis for determining several statutory import charges.
The calculation estimates import duty at 20% of the CIF value, amounting to ₦3.64 million. Additional charges include a 5% National Automotive Council (NAC) levy of ₦910,000, a 2% green tax of ₦364,000 for vehicles with engine capacities above 2,000cc, a 7% surcharge on import duty valued at ₦254,800, and other fees estimated at ₦675,000.
Before the application of Value Added Tax (VAT), the estimated subtotal reaches ₦24.04 million. Applying VAT at 7.5% increases the total import charges and statutory fees to approximately ₦7.65 million, resulting in a final estimated landed cost of ₦25.84 million for the imported vehicle.
The analysis also indicates that the total landed cost is about 72.27% higher than the original ₦15 million FOB price, illustrating how freight costs, customs duties, taxes and regulatory charges significantly influence the final cost of imported vehicles in Nigeria.
While the figures provide an illustrative estimate of import costs under the stated assumptions for July 2026, actual expenses may vary depending on exchange rates, customs valuation, port charges, shipping conditions and any applicable government policies or regulatory adjustments at the time of importation.
