Nigeria, Feb. 12 -- The Nigeria Customs Service (NCS) has suspended the implementation of a controversial 4 per cent Free-on-Board (FOB) charge on imports, citing ongoing consultations with the finance ministry, trade experts and other business groups.

This was disclosed in a statement signed by the service spokesperson, Abdullahi Maiwada, on Tuesday.

The 4 per cent FOB charge is calculated based on the value of goods at the point of export, excluding shipping and insurance costs. Introduced under the Nigeria Customs Service Act 2023, it was intended to replace the 1 per cent Comprehensive Import Supervision Scheme (CISS) but has been suspended amid concerns over its impact on import costs.

It said the decision follows concerns raised ...