The Nigeria Customs Service (NCS) has announced the introduction of a 4 percent fee based on the Free On-Board (FOB) value of imports.
Henzodaily reports that this development was announced in a statement made available to newsmen in Abuja on Wednesday by the service’s spokesperson, Abdullahi Maiwada.
Maiwada clarified that this initiative aligns with the stipulations outlined in the Nigeria Customs Service Act (NCSA) 2023.
According to Section 18 (1) of the NCSA 2023, the NCS is set to enforce a 4 percent charge on the FOB value of imported goods.
This FOB charge is determined by the total value of the imported items, which encompasses both the cost of the goods and the transportation expenses incurred up to the loading port, and is vital for the efficient functioning of the service.
Additionally, the NCS recognizes the concerns expressed by stakeholders regarding the ongoing collection of the 1 percent Comprehensive Import Supervision Scheme (CISS) fee.
“It is a regulatory charge imposed for funding Nigeria’s Destination Inspection Scheme alongside the 4 per cent FOB charge.
“ As a responsive government agency, the service wishes to assure the general public that extensive consultation is ongoing with the Federal Ministry of Finance to address all agitations raised by our esteemed stakeholders,” Maiwada noted.
He urged all stakeholders to comply with the directive, which was conceived after extensive consultation with relevant stakeholders and organisations.
“All stakeholders are urged to support this legally binding initiative.
“As the measures introduced in alignment with the NCSA 2023 reflects a balanced approach born out of extensive consultations with industry players, importers, and regulatory bodies,” he said, describing the contribution of stakeholders in shaping and actualizing the NCSA 2023 as invaluable.
The contributions of their insights, expertise, and steadfast dedication have played a crucial role in establishing a strong legal framework that improves efficiency, fosters innovation, and bolsters transparency within customs operations.
Maiwada emphasized that under the guidance of the Comptroller-General, Adewale Adeniyi, the service is dedicated to upholding transparency, equitable trade practices, and effective revenue management.