The Nigeria Customs Service (NCS) has confirmed receipt of a directive from the Federal Ministry of Finance suspending the implementation of the controversial 4% Free-on-Board (FOB) charge on imported goods.
In a statement, the Service said it has commenced consultations with the Ministry to explore alternative measures that will ensure continuity of operations while aligning with government fiscal policies.
Customs expressed optimism that ongoing discussions with the Ministry of Finance and other stakeholders will address concerns raised over the levy, while safeguarding revenue generation and trade facilitation.
The Service also moved to clarify reports suggesting that the 4% FOB levy was a recent initiative of Customs, noting that the provision was established under Section 18(1)(a) of the Nigeria Customs Service Act, 2023, as a statutory funding mechanism in line with international best practices.
Assuring stakeholders of uninterrupted operations, Customs pledged its continued commitment to efficient service delivery, international standards, and Nigeria’s broader economic growth objectives.
Leave a Reply