The federal government has suspended the newly introduced free on board (FOB) levy collected by the Nigeria Customs Service (NCS) on imported goods, with immediate effect.
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In a memo signed by R. O. Omachi, permanent secretary, special duties in the office of the Minister of Finance and Coordinating Minister of the Economy, the suspension follows “extensive consultations with industry stakeholders, trade experts, and relevant government officials.” The Finance Minister also serves as chairman of the Customs Board.
Omachi explained that the implementation of the 4% FOB charge “poses significant challenges to Nigerian trade facilitation, economic stability, and the business environment.” He added that many importers and businesses had raised concerns over the increased financial burden of the levy, warning of potential impacts on inflation, trade competitiveness, and overall business operations in the country.
“The suspension will provide an opportunity for comprehensive stakeholder engagement and a thorough review of the levy’s framework and its broader economic implications. The Ministry of Finance looks forward to working closely with the Service and all relevant parties to devise a more equitable and efficient revenue structure that supports both revenue generation and economic growth,” Omachi stated.
The NCS first announced plans to introduce a four percent charge on the FOB value of imports on February 4, 2025, but the plan was initially suspended to allow for stakeholder consultations. The levy was later reintroduced on July 23, 2025, replacing previous seven percent collection fees from the federation account and one percent CISS at ports. The Service justified the levy as a means to fund its trade platform, operational efficiency, and modernization programs.
The Manufacturers Association of Nigeria (MAN) had opposed the reintroduction of the levy, warning it would significantly raise the cost of importing raw materials, machinery, and spare parts unavailable locally. MAN urged the government and NCS to defer implementation until December 31 to allow for a proper impact assessment and stakeholder consultations.
Earlier, the Comptroller-General of Customs, Adewale Adeniyi, had projected that the 4% FOB levy would generate N1.07 trillion towards the NCS’s proposed revenue target of N6.58 trillion for 2025, a target later increased by the Senate to N10 trillion.
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