Nigeria Customs Introduces 4% FOB Levy, Scraps 7% & 1% Port Charges
Customs Overhaul: 4% FOB Levy Replaces 7% + 1% Fees The Nigeria Customs Service (NCS) has announced a major reform:✔ Scrapped: 7% federation collection fee + 1% CISS charge✔ New Levy: 4% Free On Board (FOB) fee (based on goods’ value at loading port)✔ Goal: Fund B’Odogwu—a homegrown digital clearance system replacing NICIS II 💡 Why the Change? 🔹 Efficiency: Faster, tech-driven clearance via Unified Customs Management System (UCMS)🔹 Transparency: Reduce bottlenecks & corruption in ports🔹 Global Standards: Align with World Customs Organization (WCO) practices 🗣️ Comptroller-General Adewale Adeniyi Explains “The 4% levy isn’t arbitrary—it’s vital to modernize Customs. ‘Sweet soup needs money.’”“B’Odogwu will showcase Nigeria’s tech capacity to the world, especially as we chair the WCO.” 📌 Key Takeaways for Importers ✅ No double charges: 4% FOB replaces old fees (no extra 1% CISS or 7% levy)✅ Digital shift: B’Odogwu aims for paperless, faster clearance✅ Stakeholder appeal: Customs seeks cooperation during transition 🌍 Bigger Picture WCO Leadership: Nigeria’s 2023 Customs Act supports the levy […]