The Lagos Chamber of Commerce and Business has raised alarm over the Nigeria Customs Service’s continued enforcement of the 4 per cent Free-on-Board levy, regardless of a suspension directive issued by the Minister of Finance.
In a press release signed by its Director-Normal, Chinyere Almona, on Monday, the Chamber famous that the Customs Service has cited Part 18(1)(a) of the NCS Act 2023 as justification for retaining the levy.
Nevertheless, the Chamber burdened that the Finance Minister is constitutionally empowered to find out fiscal coverage and that such directives have to be carried out instantly, until overruled by the Nationwide Meeting or a reliable court docket.
In response to the LCCI, the continued assortment of the levy is elevating import prices, eroding competitiveness, and discouraging investor confidence at a time when the economic system requires readability and stability.
“The enterprise neighborhood can not thrive beneath conflicting coverage indicators. We urge the Nigeria Customs Service to recalibrate its techniques instantly to mirror the ministerial directive and subject a public discover confirming compliance,” the assertion learn.
The Chamber additionally urged the Ministry of Finance and the Nationwide Meeting to maneuver rapidly to resolve any authorized ambiguities to forestall additional distortions that might hurt commerce, job creation, and total {economic} progress.
It emphasised that institutional coordination and coverage consistency are important to sustaining the arrogance of each home and worldwide buyers, noting that companies require a steady working surroundings to make long-term commitments.
The Federal Authorities had just lately suspended the implementation of the 4 per cent FOB levy launched by Customs on all imported items.
The choice, introduced by Finance Minister, Wale Edun, adopted issues from importers, commerce specialists, and business stakeholders in regards to the levy’s adversarial {economic} results.
In a letter dated September 15, 2025, and addressed to the Comptroller-Normal of Customs, the minister, in his capability as Chairman of the NCS Board, ordered the fast suspension of the levy.
In response to the letter, which was signed by Raymond Omachi, Everlasting Secretary for Particular Duties within the Ministry of Finance, in-depth discussions with events confirmed that the payment would considerably impression commerce and the general economic system.