Get Guardian on GoogleAirline Operators of Nigeria (AON) and Employers’ Consultative Association (NECA) have commended President Bola Tinubu and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, for suspending the proposed four per cent Free on Board (FoB) levy on imports.
A statement issued by AON spokesperson, Prof. Obiora Okonkwo, yesterday described the suspension as a “clear demonstration of President Tinubu’s commitment to creating a business-friendly environment, protecting critical sectors of the economy, and promoting sustainable growth.”
The FOB levy had caused outcry among manufacturers, importers, and customs agents, who claimed that the new levy would worsen inflation in the country.
In a statement yesterday, Edun said the levy, introduced by the Nigeria Customs Service, posed risks to trade facilitation, economic stability, and Nigeria’s business climate.
Edun explained that the suspension followed widespread concerns raised by manufacturers, importers, and clearing agents, who argued that the levy would worsen inflation, erode trade competitiveness, and dampen the investment climate.
AON had argued that the proposed levy, if implemented, would have had severe consequences for airlines operating in Nigeria, significantly increasing operational costs in an industry already grappling with numerous economic headwinds.
The operators stressed that such a policy would have further strained aviation operators, potentially impacting job security, service delivery, and the overall competitiveness of Nigeria’s aviation sector.
NECA, in its reaction through the Director-General, Mr Adewale-Smatt Oyerinde, stated: “We commend the Minister of Finance and Coordinating Minister of the Economy for the demonstration of the government’s commitment to grow the economy through the development of the organised private sector.
