• Agency gives 223 importers 21 days to settle dues
Concerns have been expressed over the Nigeria Customs Service’s (NCS) reintroduction of the four per cent Free-on-Board (FOB) levy, citing fears of higher import costs, inflationary pressure, and weakened competitiveness for local businesses.
It was noted that while the levy replaced the existing seven per cent Customs collection fee and one per cent Comprehensive Import Supervision Scheme (CISS) fee, it added to the financial burden for importers, especially a net increase in clearing costs for vehicle imports and high-volume goods in the country’s inflationary climate.
The four per cent FOB charge is calculated based on the value of imported goods, covering the cost of goods and transportation expenses incurred up to the port of loading.
The Secretary of the Customs Consultative Committee, Dr Eugene Nweke, told The Guardian that, although the NCS had pitched the new charge as part of its broader efforts to modernise customs operations through the B’Odogwu Clearance System, the charge could stifle trade, raise consumer prices, and hurt the economy.
Eugene argued that in a market already strained by currency volatility, high duty rates, and port inefficiencies, the added cost was being seen as a blow to trade and industry.
JUST as the fears were expressed over the levy,223 Nigerian companies that imported goods into the country without full duty payment under the Temporary Admission Permits (TAP) have now been given 21 days to fulfil the terms of their agreement by Customs or face penalties, including bond invocation.
The TAP, a temporary importation agreement, is a regulated concession under international and national customs law that allows companies to import goods free of customs duty, provided such goods are re-exported within a specified period “without alteration beyond normal depreciation,” or converted for home use.
The Nigerian Customs Service, in an official statement, noted that the defaulters must “regularise their importation status by either applying for a valid extension, re-exporting the items under customs supervision, or converting the goods to home use, subject to the payment of appropriate duties,” on or before August 17.
