Nigeria Customs Service Introduces New Levy as NPA Raises Tariff by 15% For Imported Goods
- The Nigeria Customs Service (NCS) has announced the implementation of a Free-On-Board (FOB) charge of four per cent
- The service disclosed in a recent statement that the new charge aligns with the Nigeria Customs Act of 2023
- It revealed that the charge stakeholders’ consultation is going to ensure compliance with the new charge
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Nigeria Customs Service (NCS) has begun implementing a four per cent charge on the Free-On-Board (FOB) value of imports.
Abdullahi Maiwada, national public relations officer of NCS, revealed this in a statement.
Source: Getty Images
Customs explains the reasons for the new charge
He explained that the directive aligns with the Nigeria Customs Service Act 2023.
According to him, the FOB charge is calculated based on the value of imported goods, including the cost of goods and transportation expenses and is incurred up to the port of loading.
He said the new charge is essential to drive effective operations of the service.
Maiwada disclosed that the service understands stakeholders' concerns regarding the sustained collection of a one per cent Comprehensive Import Supervision (CISS) fee.
The Customs spokesman said the CISS fee is a regulatory charge for funding Nigeria’s Destination Inspection Scheme alongside the FOB charges.
Customs mandates importers to comply
He stated that the agency assures Nigerians that extensive consultation is ongoing with the Ministry of Finance to address all concerns raised by the stakeholders.
According to a Punch report, Maiwada asked the stakeholders to comply with the new directive, which he says was done after extensive consultation.
“All stakeholders are urged to support this legally binding initiative,” he said.
He said stakeholders’ contributions in shaping and realising the 2023 Customs Act were invaluable.
The Customs mouthpiece said Adewale Adeniyi, the Comptroller-General of Customs, remains committed to transparency, fair trade practices, and effective revenue management.
NPA raises tariffs by 15%
The development comes as the Nigerian Ports Authority (NPA) has received approval to raise its tariffs by 15%, the first in 32 years.
The move aims to improve infrastructure and upgrade equipment in Nigeria’s ports.
NPA reveals the reason for tariff increase
The authority disclosed this in a statement on its X page on Thursday, February 6, 2025.
The adjustment is the first since 1993 and is intended to boost the efficiency and competitiveness of Nigerian ports.
According to the statement, the 15% review covers all NPA rates and dues. It is based on the undesirable realities of ageing and weak infrastructure, obsolete equipment, and slow port capacity expansion.
The agency said global port authorities depend on earnings from operations to stay viable and continue performing their duties, which include building and maintaining Port infrastructure, channel dredging, and providing aids for navigation and other equipment.
The statement said the global port index rating and competitiveness, which international trade communities rely on for their choice of countries to conduct business with, get their data from how well countries perform their duties.
New FX rate for cargo clearance emerges at Nigerian ports
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) has adjusted the Customs exchange rates for cargo clearance at Nigeria’s air and seaports.
The apex bank fixed the Customs rate at N1,499.482 from N1,498 the previous day. The new rate takes effect from Friday, February 7, 2025.
The development came amid the depreciation of the Nigerian currency, which reverted to N1,500 in the Nigerian Foreign Exchange Market (NFEM) .
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Source: Legit.ng
