NECA commends FG on suspension of Customs 4% charge

The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government for suspending the Nigeria Customs Service’s (NCS) four per cent Free-on-board (FOB) charge on imported goods.

Recall that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, had on Monday ordered the Comptroller General of Customs, Bashir Adeniyi, to immediately suspend the levy, citing its risks to trade facilitation, economic stability, and the entire business environment.

Speaking today in Lagos, the Director General of NECA, Mr. Adewale-Smatt Oyerinde stated that commended the minister for the demonstration of government’s commitment to grow the economy through the development of the organised private sector.

He said this action, including the withdrawal of the proposed five per cent telecom tax, further affirmed the current administration’s determination not only to promote enterprise sustainability and competitiveness, but also to enable job creation at scale.

NECA urged the immediate implementation of the directive by the Nigeria Customs Service.

“It is instructive and important that other Agencies and Departments of the Federal and State Governments align their actions with the Renewed Hope Agenda of the administration by reversing unnecessary and cumbersome charges and levies that do nothing but add to the burden of organised businesses, thus sabotaging the current administration’s effort at growing the economy,” he said.

He said, notwithstanding the Presidential directives on the suspension of the FRC Levies, the Financial Reporting Council of Nigeria continues to disobey the unambiguous directive of the President.

The association said this is not only worrisome but also unacceptable to the trading community.

Concluding his remarks, Oyerinde averred that, organised businesses will continue to play definitive roles in the rapid development of the Nigerian economy by promoting investments, trade, job creation and making sound economic recommendations to the Government at all levels.