Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has ordered the Nigeria Customs Service (NCS) to immediately suspend the controversial four per cent Free on Board (FOB) levy on imported goods.
In a circular titled, “Suspension of the Implementation of four per cent FOB Charge by the Nigeria Customs Service,” dated September 15, 2025, and signed by the ministry’s Permanent Secretary for Special Duties, Raymond Omachi, the minister warned that the levy posed risks to trade facilitation, economic stability, and Nigeria’s business environment.
Recall that the implementation of the FOB levy had sparked concerns from manufacturers, importers and customs agents, noting that it would worsen inflation in the country.
Edun ordered the Comptroller-General of Customs, Bashir Adeniyi, to halt the implementation of the levy, warning that the levy could worsen inflation, erode trade competitiveness, and dampen the investment climate.
The Minister explained that the suspension would allow for wider stakeholder consultations and a comprehensive review of the levy’s framework and economic impact. Edun noted that importers and businesses had raised concerns over the additional financial burden,
“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 four per cent FOB recently levied on all imports,” the circular stated.
According to the minister, the review will help to create a more equitable and efficient revenue structure that supports both government earnings and sustainable economic growth.