The Nigeria Customs Service (NCS) has announced the suspension of the 4% Free-on-Board (FOB) charge on imported goods, following a directive from the Federal Ministry of Finance.
The NCS has begun consultations with the Ministry to explore alternative measures during this suspension, ensuring continuity of service delivery to stakeholders.
The Service clarified that the 4% FOB provision was established by the National Assembly through Section 18(1)(a) of the Nigeria Customs Service Act, 2023, as a statutory funding mechanism for its operations. The NCS assures stakeholders that its operations will continue without disruption, remaining committed to efficient service delivery, revenue collection, and trade facilitation.
The Service looks forward to constructive engagement with relevant stakeholders to address concerns and support Nigeria’s economic growth objectives.