The Federal Government (FG), has put on hold the recently introduced four per cent Free on Board (FOB) levy on imported goods, following concerns that the policy could harm businesses and worsen inflation.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, announced the suspension in a directive to the Comptroller-General of the Nigeria Customs Service (NCS). The order, dated September 15, 2025, and signed by the Ministry’s Permanent Secretary for Special Duties, Raymond Omachi, instructed Customs to immediately stop implementing the charge.
According to the letter, feedback from importers, trade experts, and other stakeholders showed that the levy would create serious challenges for commerce, increase the cost of goods, and weaken Nigeria’s competitiveness in regional and global markets.
“The suspension allows for further consultations with relevant parties and a thorough review of the framework to ensure it aligns with economic growth and trade facilitation,” the ministry explained.
The levy — calculated on the Free on Board value of imports — had been reintroduced in April 2025 by the Customs Comptroller-General, Adewale Adeniyi, after earlier discussions with industry players.
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However, its announcement drew swift criticism from shipping companies, manufacturing groups, and traders, who warned that it would undermine investor confidence and complicate efforts to reduce the cost of doing business in Nigeria.
Officials stressed that the pause does not amount to a permanent cancellation but is intended to create room for a more balanced approach to revenue generation. The Finance Ministry said it would work with Customs, trade associations, and freight operators to design a fairer system that raises government income without stifling commerce or discouraging investment.
Importers have welcomed the reprieve as a timely measure in a difficult economic climate, while analysts advised that any future tariff policies should be carefully weighed to avoid disrupting trade flows and Nigeria’s wider economic reforms.
