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The Nigeria Employers’ Consultative Association (NECA) has condemned the new 4% Customs Administration Charge on Free on Board (FOB) value, introduced under the Nigeria Customs Service Act, 2023.
NECA’s Director-General, Adewale-Smatt Oyerinde, criticized the policy as insensitive, warning it will escalate production costs, fuel inflation, and threaten jobs. He argued that the levy contradicts the government’s Ease of Doing Business agenda and ongoing tax reforms.
With Nigeria’s annual imports at N71 trillion, the charge could add N2.84 trillion in costs. NECA urged the government to reverse the levy and adopt a more sustainable revenue approach that supports businesses and economic stability.
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