Abdulwahab Isa The Nigeria Customs Service (NCS) has acknowledged receipt of the directive from the Federal Ministry of Finance to suspend the implementation of the 4% Free-on-Board (FOB) levy on imported goods.
In a statement issued by its spokesperson, Dr. Abdullahi Maiwada, the Service expressed appreciation to the Ministry for its engagement on the matter and reaffirmed its commitment to supporting government fiscal policies.
Following the directive, NCS said it had commenced consultations with the supervisory Ministry to explore alternative measures during the suspension period to ensure seamless service delivery to stakeholders.
“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. We look forward to constructive engagement that will ultimately serve the best interests of the Federal Republic of Nigeria, enhance revenue generation, and support the nation’s economic growth objectives through efficient customs administration,” the statement read.
The Service also clarified media reports suggesting that the 4% FOB was a recent introduction, stressing that it was legally provided for in Section 18(1)(a) of the Nigeria Customs Service Act, 2023. The section stipulates “not less than 4% of the free-on-board value of imports according to international best practices” as a statutory funding mechanism for the Service’s operations.
Reassuring stakeholders, including importers, licensed customs agents, and international partners, NCS emphasized that its operations would continue without disruption, while upholding international best practices and enhancing trade facilitation.
