 has announced the implementation of a 4% charge on the Free-On-Board (FOB) value of imports.){kind=link}
The Nigeria Customs Service (NCS) has announced the implementation of a 4% charge on the Free-On-Board (FOB) value of imports.
NCS spokesperson Abdullahi Maiwada disclosed this in a statement on Wednesday, explaining that the directive aligns with the provisions of the Nigeria Customs Service Act (NCSA) 2023.
“In accordance with Section 18 (1) of NCSA 2023, the NCS is implementing a 4% charge on the Free-On-Board (FOB) value of imports,” the statement read.
The FOB charge is calculated based on the total value of imported goods, including their cost and transportation expenses up to the port of loading.
According to the NCS, this charge is crucial for ensuring the effective operation of the service.
Addressing concerns raised by stakeholders over the continued collection of the 1% Comprehensive Import Supervision Scheme (CISS) fee, the NCS clarified that it remains a regulatory charge used to fund Nigeria’s Destination Inspection Scheme alongside the newly implemented 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 concerns raised by our esteemed stakeholders,” the statement added.
The NCS urged all stakeholders to comply with the directive, emphasizing that the decision was made after thorough discussions with relevant organizations.
It also acknowledged the invaluable contributions of stakeholders in shaping and implementing the NCSA 2023.