The Nigeria Customs Service (NCS) has announced the suspension of the 4% Free-on-Board (FOB) levy on imported goods following a directive from the Federal Ministry of Finance.
In a statement on Tuesday, the Service said it has commenced consultations with the ministry to explore alternative measures during the suspension while ensuring seamless service delivery to stakeholders.
NCS spokesperson, Abdullahi Maiwada, clarified that the levy was not a new initiative of the Service but a statutory funding mechanism established under Section 18(1)(a) of the Nigeria Customs Service Act, 2023, which provides for “not less than 4% of the free-on-board value of imports.”
The Service assured stakeholders, including traders, licensed customs agents, and international partners, that operations will continue without disruption, reaffirming its commitment to efficient revenue collection, trade facilitation, and adherence to international best practices.
Maiwada added that the NCS remains optimistic about ongoing discussions with the finance ministry and other stakeholders to address concerns while safeguarding national economic growth objectives.
