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30/07/2025

Peter Obi Denies Joining PDP, Reaffirms Commitment to ADC Coalition

Link in the comment section....

30/07/2025

Nigerians spent an estimated N1.3 trillion on Premium Motor Spirit (PMS) in June 2025, as fresh competition among marketers, including the

30/07/2025

The Customs Consultative Committee (CCC) has warned that the reintroduction of the four per cent Free on Board (FOB) levy will significantly impact the cost of vehicles and goods in Nigeria.

Secretary of the CCC, Eugene Nweke, speaking to journalists on Tuesday, explained that the levy would inevitably increase the expenses associated with clearing goods at the nation’s ports.

On 4 February, the Nigeria Customs Service (NCS) announced plans to implement the four per cent charge on the FOB value of all imports, citing provisions of the NCS Act 2023.

The move was later suspended for further engagement with stakeholders following widespread criticism from industry experts and trade associations, who argued it could worsen the country’s economic pressures.

Despite earlier delays, the Chairman of the Joint Committee on Customs and Tariff, Senator Isah Jibrin, recently directed the NCS to begin immediate enforcement of the levy.

Comptroller-General of Customs Adewale Adeniyi defended the measure, saying it was necessary to boost operational efficiency and finance the agency’s ongoing technology and modernisation initiatives.

Nweke described the levy as an additional burden for shippers, even though the NCS has presented it as a replacement for existing charges aimed at enhancing customs operations.

More Details: https://nigeriannewsdirect.com/reintroduction-of-4-fob-levyll-impact-goods-services-ccc/

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