The Nigeria Customs Service (NCS) has announced the implementation of a 4% charge on the Free-On-Board (FOB) value of imports, aligning with the provisions of the Nigeria Customs Service Act (NCSA) 2023.
FOB refers to the seller’s responsibility to deliver goods to the departure port and load them onto the vessel, after which the buyer assumes responsibility for further costs.
In a statement on Wednesday, NCS National Public Relations Officer Abdullahi Maiwada explained that the new charge, calculated based on the value of goods and transportation expenses up to the port of loading, is crucial for the effective functioning of the service.
The NCS also acknowledged concerns over the continued collection of the 1% Comprehensive Import Supervision Scheme (CISS) fee, which is used to fund Nigeria’s Destination Inspection Scheme. Maiwada reassured the public that consultations with the Ministry of Finance are underway to address these concerns.
He emphasized that the new measures were introduced after extensive consultations with industry stakeholders, ensuring a balanced and legally binding approach. Maiwada urged all stakeholders to comply with the directive, emphasizing the NCS’s commitment to transparency and fair trade practices under the leadership of Comptroller-General Adewale Adeniyi.
