General News

Nigeria’s Customs to Replace Multiple Import Levies with Single 4% FOB Charge

Published by
Jeremiah Ayegbusi

The Nigeria Customs Service (NCS) has announced the replacement of multiple import levies with a single 4% Free On Board (FOB) charge.

Comptroller-General of Customs, Adewale Adeniyi, unveiled the policy during a high-level stakeholder town hall meeting held in Lagos on Monday, July 21, 2025.

The unified 4% FOB charge will eliminate both the 1% Comprehensive Import Supervision Scheme (CISS) and the 7% cost of collection previously levied on imports.

According to Adeniyi, importers will pay the 4% charge upfront, with no additional hidden fees, making the new structure more transparent and predictable for trade.

“Once the 4% FOB takes effect, the 1% CISS will cease automatically. In addition, the 7% cost of collection currently charged will also be completely removed,” Adeniyi said. He added that 100% of Customs revenue under the new regime will go directly into the Federation Account, making it a “win-win for everyone.”

The reform is aligned with broader digital modernization efforts, including the rollout of B’Odogwu, a homegrown digital customs clearance platform.

Adeniyi reassured participants that the Nigeria Customs Service is fully committed to transparent implementation, signaling a significant shift toward global best practices.

Themed “Enhancing Trade Compliance and System Optimisation Through Stakeholder Engagement,” the event drew freight forwarders, clearing agents, and trade partners. While most stakeholders applauded the simplified charge, some expressed concerns about transitional delays, particularly with banks and documentation systems.

DCG Kikelomo Adeola underscored the strategic importance of B’Odogwu, describing it as a national initiative to digitize customs and strengthen Nigeria’s leadership within the World Customs Organisation. Saleh Ahmadu of Trade Modernisation Project Limited reaffirmed continued investment in infrastructure to ensure seamless trade facilitation.

Jeremiah Ayegbusi

Jeremiah Ayegbusi is an economist and former Academic Officer of the Nigerian Economic Students Association, Redeemer's University Chapter (NESARUN). He analyzes economic news and conducts research for long-form analysis, leveraging his strong academic foundation and passion for insights.

Recent Posts

Nigerian Stocks Open Week Higher as Insurance and Blue-Chip Shares Drive NGX ASI Gains

The Nigerian equities market began the trading week on a positive note, with the NGX… Read More

11 hours ago

Breaking: Cristiano Ronaldo Engages Longtime Girlfriend Georgina Rodriguez

Five time Balon d'or winner, Cristiano Ronaldo has proposed to his longtime partner, Georgina Rodriguez.… Read More

12 hours ago

NIMC Upgrades Diaspora NIN Platform, Sets 48-Hour Licence Deadline

The National Identity Management Commission (NIMC) has rolled out a major upgrade to its Diaspora… Read More

12 hours ago

Comfort to Kirikiri, KWAM 1’s Apology Accepted: How Two Similar Occurrences Revealed Nigeria’s Imbalance

In the past week, two similar incidents in Nigeria's Aviation sector have stirred public discussions,… Read More

14 hours ago

Traffic at Lagos Airport as Protest by Farmcraft Centre for the Blind Erupts

A protest by members of the Farmcraft Centre for the Blind brought vehicular movement around… Read More

14 hours ago

Bitget Launches Instant Crypto-to-Fiat Visa & Mastercard Payouts

Bitget has rolled out a conversion-payout feature allowing users to instantly convert crypto assets like… Read More

14 hours ago