By Steve Agbota
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has ordered the Nigeria Customs Service (NCS) to suspend the implementation of the 4 per cent Free on Board (FOB) levy on imported goods.
In a circular sighted by Daily Sun and titled: “Suspension of the Implementation of 4% FOB Charge by the Nigeria Customs Service,” dated September 15, 2025, the Minister directed the Controller-General of Nigeria Customs Service, Adewale Bashir Adeniyi to ensure strict compliance with the directive.
The circular signed by the Ministry’s Permanent Secretary (Special Duties), R.O. Omachi, Edun said the government has realised that the levy poses risks to trade facilitation, economic stability, and Nigeria’s business environment.
Edun explained that the suspension would allow for wider stakeholder consultations and a comprehensive review of the levy’s framework and economic impact.
He said that importers and businesses had raised concerns over the additional financial burden, warning that the levy could worsen inflation, erode trade competitiveness, and dampen the investment climate.
“Pursuant to the powers vested in the Honourable Minister of Finance under Part III, Section 12 of the Nigeria Customs Service Act, 2023, as Chairman of the Board of Customs, I hereby direct the immediate suspension of the collection of the 4% FOB recently levied on all imports,” the Minister said.
The Minister stressed that the review would help create a more equitable and efficient revenue structure that supports both government earnings and sustainable economic growth.
