The Federal Ministry of Finance has announced the immediate suspension of the 4% Free on Board (FOB) charge recently introduced by the Nigeria Customs Service on all imported goods.
This directive was contained in an official letter dated September 15, 2025, and addressed to the Comptroller-General of the Nigeria Customs Service by the Permanent Secretary of Finance (Special Duties).
The letter, which was issued from the Ministry’s headquarters at Ahmadu Bello Way, Central Business District, Abuja, stated that the decision was made under the powers vested in the Honourable Minister of Finance and Coordinating Minister of the Economy, who also serves as the Chairman of the Board of Nigeria Customs Service.
According to the ministry, the suspension follows extensive consultations with trade experts, industry stakeholders, and relevant government officials. The statement explained that the levy, which required importers to pay 4% of the Free on Board value of their goods, could have negatively impacted Nigeria’s economy.
“The implementation of the 4% FOB charge poses significant challenges to trade facilitation, the business environment, and economic stability,” the letter read. It further highlighted concerns raised by businesses and importers over the financial strain the levy would create.
Many stakeholders expressed fears that the extra charge could lead to higher costs of goods and services, increase inflation, and reduce Nigeria’s trade competitiveness. The Ministry emphasized that this step is necessary to safeguard the country’s economic stability and protect the interests of businesses operating within 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 letter added. The Ministry of Finance assured that it would work closely with all relevant parties to create a fairer and more effective revenue structure.
The letter concluded with a directive to ensure strict compliance with the suspension order.
