The Nigeria Customs Service (NCS) has confirmed compliance with the directive of the Federal Ministry of Finance to suspend the implementation of the 4% Free-on-Board (FOB) charge on imported goods.
In a statement signed by the National Public Relations Officer, Abdullahi Maiwada, the Service said it had commenced immediate consultations with the Ministry to explore alternative measures that would ensure continued service delivery to stakeholders during the suspension period.
“The NCS remains optimistic about ongoing discussions with the Federal Ministry of Finance and other relevant stakeholders to address the concerns raised while ensuring that the Service’s statutory obligations are met effectively,” the statement read.
The Service also clarified misconceptions in sections of the media suggesting that the 4% FOB levy was recently introduced. It noted that the provision was established by the National Assembly under Section 18(1)(a) of the Nigeria Customs Service Act, 2023, which prescribes “not less than 4% of the free-on-board value of imports” as a statutory funding mechanism for its operations.
Assuring stakeholders of smooth operations, the Service pledged continued efficiency in revenue generation, adherence to international best practices, and unwavering commitment to supporting Nigeria’s economic growth through enhanced trade facilitation.