0 Shares 50 Views

Nigeria Customs Imposes 4% FOB Import Charge

gisthub Feb 06, 2025
0 51

The Nigeria Customs Service (NCS) has begun implementing a 4 percent charge on the Free On-Board (FOB) value of imports.

NCS spokesperson Abdullahi Maiwada announced the directive in a statement on Wednesday, February 5, in Abuja.

Maiwada explained that the charge is in accordance with the provisions of the Nigeria Customs Service Act (NCSA) 2023.

“In line with the provisions of Section 18 (1) of NCSA 2023, the NCS is implementing a 4 per cent charge on the Free On-Board (FOB) value of imports.

“The FOB charge, which is calculated based on the value of imported goods, including cost of goods and transportation expenses incurred up to the port of loading, is essential to driving the effective operation of the service.

“Furthermore, the NCS acknowledges concerns raised by stakeholders over the sustained collection of 1 per cent Comprehensive Import Supervision Scheme (CISS) fee.

“It is a regulatory charge imposed for funding Nigeria’s Destination Inspection Scheme alongside the 4 per cent FOB charge.

“As a responsive government agency, the service wishes to assure the general public that extensive consultation is ongoing with the Federal Ministry of Finance to address all agitations raised by our esteemed stakeholders,” he said.

He called on all stakeholders to adhere to the directive, emphasizing that it was introduced after thorough consultations with relevant organizations and industry players.

“All stakeholders are urged to support this legally binding initiative.

“As the measures introduced in alignment with the NCSA 2023 reflects a balanced approach born out of extensive consultations with industry players, importers, and regulatory bodies,” he said.

He acknowledged the invaluable role of stakeholders in shaping and implementing the NCSA 2023.

“Their insights, expertise, and unwavering commitment have been instrumental in ensuring a robust legal framework that enhances efficiency, promotes innovation and strengthens transparency in customs operations,” he said.

He stated that under the leadership of Comptroller-General Adewale Adeniyi, the service remains dedicated to transparency, fair trade practices, and efficient revenue management.

You may be interested

Military Kills 1,770 Terrorists, Arrests Over 3,000 In North-West – CDS
Government
0 shares21 views

Military Kills 1,770 Terrorists, Arrests Over 3,000 In North-West – CDS

gisthub - Apr 25, 2025

  The Chief of Defence Staff, General Christopher Musa, has disclosed that the Nigerian Armed Forces neutralised at least 1,770 terrorists and arrested…

Bloom PFM earns ISO certification
General
0 shares25 views

Bloom PFM earns ISO certification

gisthub - Apr 25, 2025

Bloom PFM, a Nigerian facility management firm, has earned the ISO 9001:2015 certification, marking a significant step in its pursuit of quality and…

Kenyan Woman Shot Dead By Her Babydaddy After Domestic Squabble In The US
Crime
0 shares19 views

Kenyan Woman Shot Dead By Her Babydaddy After Domestic Squabble In The US

gisthub - Apr 25, 2025

A tragic incident occurred in the United States on Tuesday, April 22, 2025, when Hulda Bochere Mosiori, a 42-year-old mother of four from…

Leave a Comment

Your email address will not be published.

Most from this category