The Federal Government has approved a new policy that replaces several existing import levies with a unified 4 percent Free-On-Board (FOB) charge. This significant move will streamline Nigeria’s import system and reduce the cost of goods in the local market.
Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, made the disclosure during a stakeholder townhall meeting held in Lagos on July 21, 2025.
According to him, “This new charge will eliminate the longstanding 1 percent Comprehensive Import Supervision Scheme (CISS) and the 7 percent cost of collection, simplifying cargo clearance processes and increasing revenue transparency.
“Under the new system, only a flat 4 percent of the FOB value of imported goods will be paid upfront, with all proceeds remitted directly to the Federation Account.”
According to CG Adeniyi, the policy is part of a broader modernization agenda supported by the Federal Ministry of Finance, aimed at improving port efficiency, reducing inflationary pressure, and encouraging formal trade.
He explained that the reform is being implemented alongside the rollout of the B’Odogwu digital platform, which automates import documentation and reduces clearance delays.
The CG stated that, for vehicle importers, the impact is immediate and substantial. Previously, clearing an SUV such as a Lexus RX 350 with a CIF value of ₦3 million attracted clearance costs ranging from ₦850,000 to ₦1.2 million. With the unified 4% FOB charge, the cost now stands at just ₦120,000, representing a savings of over 85 percent.
Stakeholders in the logistics and import sectors have welcomed the policy, describing it as a long-overdue relief that introduces predictability and fairness into port operations.
However, some industry experts are calling for further clarification to ensure that hidden charges or terminal fees do not undermine the reform’s benefits.
From July 22 to 23, 2025, financial analysts and trade observers confirmed that the new policy had entered the implementation phase, with Customs officers already adjusting to the 4 percent framework. Many believe the reform could lead to a significant increase in import volume and a decrease in the final market prices of goods, especially cars, electronics, and raw materials.
The Federal Government’s approval of the unified 4 percent FOB import charge represents a decisive shift toward trade facilitation and customs transparency. If consistently applied, the policy could improve Nigeria’s trade rankings, reduce business costs, and benefit millions of consumers across the country.
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