FG suspends proposed collection Percent FOB by Customs

By Godwin Oritse

The Federal Government, through the Ministry of Finance, has suspended the planned collection of the 4 percent Free On Board (FOB) charge on all imports, citing potential disruptions to trade in 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 following wide consultations with industry stakeholders, trade experts, and relevant government agencies, it became clear that implementing the FOB charge would create significant trade challenges for Nigerians.

Part of the Memo reads:”Following the extensive consultation with industry stakeholders, officials of relevant agencies of government, it has become clear that the implementation of the 4 percent FOB charge poses significant challenges to the Nigerian trade facilitation, environment and economic stability. Many importers and businesses have raised concerns about the increased financial burden the levy imposes with potential adverse effects on inflation, trade competitiveness and overall business climate in Nigeria.

” This suspension will provide an opportunity for a comprehensive stakeholders’ engagement and a thorough review of the Levy’s framework and a broader economic implications.

“The Ministry of Finance looks forward closely with the Service and other relevant parties to device a more equitable and efficient revenue structure that supports both revenue generation and economic growth and stability.”

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