Nigerian Customs Service Suspends Enforcement of Four Percent FOB Value on Imports

Nigerian Customs Service Suspends Enforcement of Four Percent FOB Value on Imports

The Nigerian Customs Service has announced the suspension of the enforcement of the four percent Free-on-Board (FOB) value on imported goods.

 This decision was communicated through a statement issued by the Customs National Public Relations Officer, Abdullahi Maiwada, on Tuesday in Abuja.

According to the statement, the suspension follows ongoing consultations with the Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, as well as other key stakeholders. The intent behind this suspension is to facilitate a more comprehensive engagement and dialogue among stakeholders regarding the implementation framework of the Act.