MAN Urges FG To Halt 4% FOB Charge, Cites Economic Implications
The Manufacturers Association of Nigeria (MAN) has called on the federal government to halt the reintroduction of a four per cent FOB charge on imports by the Nigeria Customs Service, set to take effect on August 4, 2025. MAN argues that this charge will increase manufacturing costs, fuel inflation, and undermine government efforts to promote economic growth.
MAN's Director-General, Segun, expressed concern over the impact of this charge on the manufacturing sector, citing a rapid technical assessment that revealed significant cost implications for raw materials and machinery imports. The association highlighted that the charge would exacerbate financial burdens on manufacturers already struggling with high exchange rates, energy costs, and interest rates.
MAN emphasized the need for transparent and efficient trade facilitation to support a thriving manufacturing sector and sustainable revenue generation. They called for dialogue with relevant stakeholders to address these concerns and prioritize trade facilitation for economic development.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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