Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has directed the Nigeria Customs Service (NCS) to halt the implementation of the 4% Free on Board (FOB) levy on imported goods.
In a circular dated September 15, 2025, and signed by R.O. Omachi, Permanent Secretary (Special Duties), Edun cited concerns over the levy’s potential to disrupt trade, fuel inflation, and undermine Nigeria’s investment climate. The directive was issued to Comptroller-General of Customs, Bashir Adewale Adeniyi.
“Pursuant to the powers vested in the Honourable Minister of Finance under Part III, Section 12 of the Nigeria Customs Service Act, 2023, I hereby direct the immediate suspension of the collection of the 4% FOB recently levied on all imports,” the circular stated.
The Minister emphasized that the suspension would allow for broader stakeholder engagement and a thorough review of the levy’s economic implications. He noted that businesses had expressed concern over the added financial strain, warning it could erode competitiveness and dampen investor confidence.
Edun also instructed the Customs Service to ensure strict compliance with the suspension order, adding that the review aims to establish a fairer and more efficient revenue system that balances government income with sustainable economic growth.