BREAKING: Finance Ministry Suspends Implementation of Customs 4% FOB Charge on Imports
Minister of Finance, Wale Edun (left) and Comptroller-General of Customs, Bashir Adewale Adeniyi
By DAPO OLAWUNI
The Federal Ministry of Finance has announced the immediate suspension of the controversial 4% Free on Board (FOB) charge recently imposed by the Nigeria Customs Service on all imported goods, citing significant economic concerns raised by industry stakeholders.
In an official letter dated September 15, 2025, and signed by K.O. Omale, FCA, Permanent Secretary for Special Duties, the Ministry of Finance directed the Comptroller-General of Nigeria Customs Service to halt the implementation of the levy that had sparked widespread criticism from the business community.
The suspension comes after what the Ministry described as extensive consultations with industry stakeholders, trade experts, and relevant government officials, which revealed that the 4% FOB charge posed significant challenges to Nigeria’s trade facilitation, business environment, and economic stability.
According to the Ministry’s statement, many importers and businesses raised serious concerns about the increased financial burden the levy would impose, warning of potential adverse effects on inflation, trade competitiveness, and Nigeria’s overall business climate.
“Following extensive consultations with industry stakeholders, trade experts, and relevant government officials, it has become clear that the implementation of the 4% FOB charge poses significant challenges to the Nigerian trade facilitation, environment and economic stability,” the Ministry stated in its directive.
The suspension will provide an opportunity for what the Ministry termed comprehensive stakeholder engagement and a thorough review of the levy’s framework and its broader economic implications.
The Ministry of Finance indicated its commitment to working closely with the Nigeria Customs Service and all relevant parties to develop a more equitable and efficient revenue structure that supports both revenue generation and economic growth and stability.
The decision represents a significant victory for importers, manufacturers, and trade associations who had lobbied against the charge since its recent implementation.
