Customs consults finance ministry on alternatives for suspension of FOB levy

The Nigeria Customs Service (NCS) has commenced consultations with the Federal Ministry of Finance on alternative funding measures following the suspension of the 4% Free-on-Board (FOB) charge on imported goods.

In a statement issued on Tuesday, Abdullahi Maiwada, Assistant Comptroller of Customs and National Public Relations Officer, confirmed receipt of the ministry’s directive suspending implementation of the levy.

He noted that the Service remains committed to aligning with government fiscal policies while ensuring uninterrupted service delivery to stakeholders.

“The Service appreciates the Ministry’s engagement on this matter and has begun immediate consultation with its supervisory ministry to seek guidance on alternative measures during this suspension,” Maiwada said.

The NCS expressed optimism that ongoing discussions with the Finance Ministry and other stakeholders would yield solutions that balance revenue generation with national economic objectives.

It also moved to dispel reports suggesting the levy was a recent creation, stressing that the 4% FOB charge is enshrined in Section 18(1)(a) of the Nigeria Customs Service Act, 2023.

The provision, it explained, established the charge as a statutory funding mechanism aligned with international best practices.

“The Service assures all stakeholders, including the trading public, licensed customs agents, and international partners, that operations will continue without disruption. We remain committed to efficient service delivery, effective revenue collection, and trade facilitation,” the statement added.

The suspension comes amid heightened scrutiny of Nigeria’s trade and fiscal policies, with stakeholders closely watching how the government balances customs funding, revenue mobilisation, and economic growth imperatives.

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