Manufacturers Hail FG Over Suspension of 4% Customs FOB Levy

The Manufacturers Association of Nigeria (MAN) has praised the Federal Government for suspending the controversial 4% Free-on-Board (FOB) charge on imports, which had been reintroduced by the Nigeria Customs Service (NCS) on August 4, 2025.

In a statement issued on Tuesday, MAN’s Director General, Segun Ajayi-Kadir, said the decision has brought immediate relief to manufacturers who had expressed deep concern over the levy, warning it would have triggered higher production costs.

Ajayi-Kadir described the suspension as “instant succour” for Nigeria’s manufacturing community, noting that the Minister of Finance’s intervention averted a looming price escalation.

“The Minister just saved our country from a self-inflicted price escalation that could have unsettled the stability this administration has achieved. Though the levy was intended to raise revenue, it was an ‘own goal’ in economic terms,” he said.

The DG added that the charge would have significantly increased the cost of importing raw materials, machinery, and spare parts not available locally, thereby worsening inflationary pressures.

Ajayi-Kadir expressed confidence that the NCS will promptly communicate the suspension to all commands and update its portal to reflect the directive. He also reaffirmed MAN’s commitment to collaborating with government to streamline trade processes, reduce port costs, and improve fiscal transparency.