The suspension was communicated in a letter dated September 15, 2025, and signed by the Permanent Secretary (Special Duties) at the Ministry of Finance, O. Omachi, on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to the Comptroller-General of Customs.
According to the ministry, the decision came after extensive consultations with industry stakeholders, trade experts, and key government officials who warned that the levy would stifle trade and worsen Nigeria’s fragile economic environment.
“I write to direct the immediate suspension of the implementation of the collection of 4 per cent Free on Board (FOB) recently levied by the Nigeria Customs Service on all imported goods,” the letter stated.
It further stressed that the levy posed “significant challenges to trade facilitation, business competitiveness, and economic stability,” noting concerns raised by importers over its potential to worsen inflation and disrupt supply chains.
The Ministry of Finance explained that the suspension would create room for deeper stakeholder engagement and a comprehensive review of the levy’s framework to develop a fairer revenue system that balances government earnings with economic growth.
This move comes months after the levy was quietly reintroduced by the Customs Service, despite an earlier suspension in February. The decision had sparked outrage, with manufacturers and importers warning that the FOB charge would cripple businesses and worsen the cost-of-living crisis.
Industry watchers see the suspension as a strategic move to restore investor confidence and ease business pressures as the government grapples with economic reforms.
