The Federal Government of Nigeria, through the Nigeria Customs Service (NCS), has announced plans to reduce import duties by eliminating the seven percent surcharge currently applied to all imports.
The proposal, revealed by Comptroller-General of Customs Adewale Adeniyi during a stakeholder town hall on the Bodogwu clearance system, is under legislative review and aims to lower the cost of doing business at Nigerian ports.
Adeniyi emphasized that the initiative, supported by advanced technology and stakeholder collaboration, seeks to enhance trade efficiency and competitiveness.
The move follows concerns from the business community, particularly the Manufacturers Association of Nigeria (MAN), which had protested additional levies like the recently suspended four percent Free on Board (FOB) charge.
If implemented, the duty reduction is expected to alleviate financial burdens on importers and stimulate economic activity.
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