Importers and business operators have welcomed the Federal Government’s suspension of the four per cent Free on Board levy earlier introduced by the Nigeria Customs Service, describing it as a major relief for trade.
The decision, announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, followed weeks of criticism from stakeholders who warned that the levy would worsen inflation, increase costs of goods, and undermine Nigeria’s competitiveness.
In a letter dated September 15, 2025, and signed by the Permanent Secretary for Special Duties in the Ministry of Finance, Raymond Omachi, the government directed the Comptroller-General of Customs to suspend implementation of the charge with immediate effect.
The ministry noted that extensive consultations had shown the policy would strain businesses and threaten economic stability.
Importers said the suspension eases pressure in a difficult operating environment. The National Council of Managing Directors of Licensed Customs Agents noted that duties were already burdensome, and the levy would have discouraged trade further.
The Association of Nigerian Licensed Customs Agents also welcomed the move, saying it would allow operators to manage costs more efficiently.
Analysts have cautioned, however, that the suspension is not a cancellation, with the Finance Ministry stating that the pause was to allow for further engagement and review.
Industry experts stressed that any new revenue measures must not disrupt trade flows or dampen investor confidence.
Traders said they expect government policies to support reforms aimed at stabilising the naira, reducing inflation, and improving Nigeria’s ease of doing business ranking.
Stakeholders also warned that frequent policy changes by Customs could discourage long-term investment decisions.
For now, the suspension provides temporary relief to importers, but businesses remain cautious about future barriers that may arise as the government balances revenue generation with economic growth.