US EditionNigeria: Federal Government Halts 4% FoB Customs Levy Over Trade Facilitation, Inflation Concerns
The suspension allows for thorough stakeholder consultations and review to address concerns that the 4% levy may increase inflation and hinder Nigeria's trade competitiveness, officials said.
- On September 15, 2025, the Nigerian federal government halted the collection of the recent 4% charge imposed by Customs on imported goods.
- This suspension followed extensive consultations amid concerns that the levy posed significant challenges to trade and economic stability.
- Manufacturers, importers, and business organizations cautioned that the newly imposed levy could drive up the cost of imported goods, exacerbate inflationary pressures, and undermine Nigeria's ability to compete in international trade.
- Finance Minister Wale Edun explained that halting the levy’s implementation would allow for broad consultation with all parties involved and an in-depth evaluation of the charge’s design and its wider economic effects.
- The government intends to collaborate with Customs and key stakeholders to develop a fairer and more effective revenue system that balances fiscal requirements with economic growth.
12 Articles
12 Articles
FG suspends 4% FOB levy on Imports amid Inflation, trade worries
The levy, introduced under the Nigeria Customs Service Act, 2023, was aimed at boosting government revenue. The post FG suspends 4% FOB levy on Imports amid Inflation, trade worries appeared first on Premium Times Nigeria.
Nigeria: Federal Government Halts 4% FoB Customs Levy Over Trade Facilitation, Inflation Concerns
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has directed the Nigeria Customs Service (NCS) to suspend the implementation of the four per cent Free on Board (FoB) charge.
Relief for businesses as FG suspends 4% FOB import charge
There is relief for Nigerian businesses as the Federal Government under President Bola Ahmed Tinubu has suspended the 4 per cent Free on Board, FOB import charge collection by the Nigeria Customs Service, NCS, amid outrage from stakeholders. The suspension was contained in a letter dated September 15, 2025, signed by the Permanent Secretary (Special Duties) at the Ministry of Finance, O. Omachi, on behalf of the Minister, Wale Edun, to the Compt…
Importers Welcome Suspension Of 4% Levy, Warn Against Future Trade Barriers
Importers and business operators have welcomed the Federal Government’s suspension of the four per cent Free on Board levy earlier introduced by the Nigeria Customs Service, describing it as a major relief for trade. The decision, announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, followed weeks of criticism from […] The post Importers Welcome Suspension of 4% Levy, Warn Against Future Trade Barriers appear…
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