The Federal Government, led by President Bola Tinubu, has suspended a newly implemented 4% Free on Board (FOB) import charge collected by the Nigeria Customs Service. The decision follows widespread criticism from businesses and trade stakeholders who warned that the fee would worsen economic hardship.
The suspension, effective immediately, was announced in a letter dated September 15, 2025, and signed by O. Omachi, the Permanent Secretary for Special Duties at the Ministry of Finance, on behalf of Minister Wale Edun.
According to the letter, the government recognized that the 4% charge posed “significant challenges to the Nigerian trade facilitation environment and economic stability.” Businesses had raised concerns that the levy would increase costs, fuel inflation, and harm the country’s trade competitiveness.
The government stated that the suspension will allow for “comprehensive stakeholder engagement and a thorough review of the levy’s framework and its broader economic implications.” The Ministry of Finance and Customs Service are expected to work together to develop a more equitable and efficient revenue structure that supports both economic stability and growth.
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