The Nigeria Customs Service (NCS) has announced the suspension of the planned implementation of a four per cent Free-on-Board (FOB) charge on imports, as outlined in the Nigeria Customs Service Act (NCSA) 2023.
The Controller General of Customs, Bashir Adeniyi, who announced this in a statement yesterday, said the suspension follows ongoing consultations with the Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, and other key stakeholders, which aims to allow comprehensive stakeholder engagement on the framework for implementing the Act.
Adeniyi added that the decision also coincides with the expiration of contract agreements with service providers such as Webb Fontaine, which were previously funded through the one per cent Comprehensive Import Supervision Scheme.
