FG suspends proposed collection Percent FOB by Customs

By Godwin Oritse

The Federal Government, done the Ministry of Finance, has suspended the planned postulation of the 4 percent Free On Board (FOB) complaint connected each imports, citing imaginable disruptions to commercialized successful Nigeria.

In a memo (Ref. No. F6380/T/12) dated September 15, 2025, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, explained that pursuing wide consultations with manufacture stakeholders, commercialized experts, and applicable authorities agencies, it became wide that implementing the FOB complaint would make important commercialized challenges for Nigerians.

Part of the Memo reads:”Following the extended consultation with manufacture stakeholders, officials of applicable agencies of government, it has go wide that the implementation of the 4 percent FOB complaint poses important challenges to the Nigerian commercialized facilitation, situation and economical stability. Many importers and businesses person raised concerns astir the accrued fiscal load the levy imposes with imaginable adverse effects connected inflation, commercialized competitiveness and wide concern clime successful Nigeria.

” This suspension volition supply an accidental for a broad stakeholders’ engagement and a thorough reappraisal of the Levy’s model and a broader economical implications.

“The Ministry of Finance looks guardant intimately with the Service and different applicable parties to instrumentality a much equitable and businesslike gross operation that supports some gross procreation and economical maturation and stability.”

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