The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has directed the Nigeria Customs Service (NCS) to suspend the implementation of the four per cent Free on Board (FoB) charge.
In a circular titled, “Suspension of the Implementation of 4% FOB Charge by the Nigeria Customs Service,” the Minister said implementation of the 4% FOB charge posed significant challenges to the Nigerian trade facilitation, environment and economic stability.
According to the circular dated September 15, 2025, with reference number F6330/T³/12, signed by the Permanent Secretary, Special Duties of the Ministry, R. O. Omachi, and directed to the Comptroller-General of Customs, CG Bashir Adewale Adeniyi, Edun said the suspension will provide an opportunity for comprehensive stakeholder engagement and a thorough review of the levy’s framework and its broader economic implications.
He stated further that importers and businesses have raised concerns about the increased financial burden the levy imposes, with potential adverse effects on inflation, trade competitiveness, and the overall business climate in Nigeria.
“Pursuant to the powers vested upon the Honourable Minister of Finance and the Coordinating Minister of the Economy under Part III, Section 12 of the Nigeria Customs Service Act, 2023 as the Chairman of the Board of Nigeria Customs Services, I write to direct the immediate suspension of the implementation of the collection of 4% Free on Board (FOB) recently levied by the Nigeria Customs Service on all imported goods.
“Following extensive consultations with industry stakeholders, trade experts, and relevant government officials, it has become clear that the implementation of the 4% 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 this levy imposes, with potential adverse effects on inflation, trade competitiveness, and the overall business climate in Nigeria.
“This 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 and stability,” the letter stated.
The Minister also directed that Customs CG to ensure strict compliance with the circular.
