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.
Think about this money choice
A phone made in China costs $200. By the time it reaches local shelves it costs ₦450,000.
How it works
Many imported goods carry duties — that's why imports cost more.
Try a real-life example
Real-life money moment: Think about a time when import duties affected a money decision.
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?