FG Suspends 4% Import Levy Amid Stakeholder Backlash
The Federal Government of Nigeria has suspended the implementation of the four per cent Free on Board (FOB) levy on imported goods following backlash from stakeholders. The suspension, announced in a circular dated September 15, 2025, aims to ease inflationary pressures and protect Nigeria's competitiveness in global trade.
The decision was made to consult widely with stakeholders and develop a fairer and sustainable revenue model. The four per cent FOB levy was introduced under the Nigeria Customs Service Act 2023 but faced opposition from manufacturers, importers, and clearing agents.
The government's move reflects a commitment to addressing concerns raised by stakeholders and ensuring a conducive business environment.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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