Import duties
Discover import duties and why it matters for your financial safety and decisions.
In this lesson
Import duties is part of Taxes We Pay Every Day. This preview shows how financial-citizenship connects to everyday family decisions such as earning, saving, spending choices, goals, approvals, or parent-guided money conversations inside Progress Penguin.
Today’s money mission
A phone made in China costs $200. By the time it reaches local shelves it costs ₦450,000.
What you need to know
Many imported goods carry duties — that's why imports cost more.
Real-life example
Real-life money moment: Think about a time when import duties affected a money decision.
Progress Penguin connection
In Progress Penguin, complete or review one practical action connected to “Import duties.” Use this lesson objective: Understand import duties and apply it to real money decisions. Record what you checked, the evidence you used, and your next step.
Activity preview
Choose the best money move
Use what you just learned. Choose the option you can explain.
Quiz preview
Import duties are:
A phone manufactured in China costs the equivalent of 80000 in local currency before import. After 20% import duty and 7.5% VAT, what is the approximate final cost?