The Nigeria Customs Service (NCS) has introduced a 4% levy on the Free-on-Board (FOB) value of imports, in line with the Nigeria Customs Service Act (NCSA) 2023. The levy covers goods' costs and transportation expenses. Stakeholder consultations and ongoing talks with the Ministry of Finance aim to address concerns.
In a move to bolster revenue and streamline operations, the Nigeria Customs Service (NCS) has introduced a 4% levy on the Free-on-Board (FOB) value of imported goods. This levy is calculated based on the cost of the goods and transportation expenses incurred up to the port of loading. The decision aligns with the provisions of the Nigeria Customs Service Act (NCSA) 2023 and follows consultations with industry stakeholders.
Abdullahi Maiwada, the NCS’s national public relations officer, clarified that the charge aims to improve service operations and is in line with the NCSA 2023. The implementation of this charge comes alongside the existing 1% Comprehensive Import Supervision Scheme (CISS) fee, which is levied to fund Nigeria’s Destination Inspection Scheme.
While the NCS assures that the levy was introduced after extensive consultations with various stakeholders, including the Ministry of Finance, concerns regarding the burden on importers have been raised. The customs service has committed to further dialogue with relevant bodies to address these concerns. Maiwada emphasized the importance of compliance, assuring that the service's commitment to transparency and efficient revenue management under the leadership of Adewale Adeniyi would remain a priority. The levy is expected to foster a more effective customs operation, ultimately promoting fair trade practices and strengthening revenue collection.
