Government official in a formal suit discusses the suspension of the 4% FOB levy on imports.
By Onu Okorie
The federal government has suspend the implementation of the 4 per cent Free on Board (FOB) levy on imported goods in order to further facilitate the easy of doing business in Nigeria.
This was made known by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in a circular titled “Suspension of the Implementation of 4% FOB Charge by the Nigeria Customs Service,” dated September 15, 2025, and signed by the Ministry’s Permanent Secretary (Special Duties), R.O. Omachi. Edun also warned that the levy posed risks to trade facilitation, economic stability, and Nigeria’s business environment
Addressed to the Comptroller-General of Customs, Bashir Adewale Adeniyi, the circular further directed the Customs Comptroller-General to ensure strict compliance with the suspension order
The Minister stressed that the review would help create a more equitable and efficient revenue structure that supports both government earnings and sustainable economic growth.
Edun explained that the suspension would allow for wider stakeholder consultations and a comprehensive review of the levy’s framework and economic impact. He noted that importers and businesses had raised concerns over the additional financial burden, warning that the levy could worsen inflation, erode trade competitiveness, and dampen the investment climate.
“Pursuant to the powers vested in the 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 4% FOB recently levied on all imports,” the circular stated.
