The Nigeria Customs Service (NCS) has announced the suspension of the 4% Free-on-Board (FOB) charge on imported goods in line with a directive from the Federal Ministry of Finance.
In a statement on Tuesday, the Service explained that consultations were ongoing with the Ministry to explore alternative measures during the suspension towards ensuring that trade and customs operations continue smoothly.
The NCS clarified that the 4% FOB charge was not a recent introduction but a statutory funding mechanism established under the Nigeria Customs Service Act, 2023.
Reaffirming its commitment to efficient service delivery, revenue generation, and trade facilitation, the Service assured stakeholders that operations will proceed without disruption. It added that engagement with stakeholders will remain a priority to address concerns and sustain Nigeria’s economic growth.