12 August 2025
The cost of importing goods into Nigeria is poised to rise sharply following the Nigeria Customs Service’s (NCS) decision to reinstate a four percent Free on Board (FoB) charge and increase licensing fees for clearing agents.
The revived FoB charge, which applies to the value of goods at the point of shipment, is expected to directly impact importers, who may pass the additional cost on to consumers. Industry operators fear the move will trigger higher retail prices, further straining household budgets already stretched by inflation.
In addition to the FoB levy, the NCS is proposing a significant hike in licensing fees for customs agents, a development stakeholders say will increase the cost of clearance and handling at ports. Critics argue that these measures could slow trade, discourage small-scale importers, and push more goods into informal and unregulated channels.
The NCS, however, maintains that the policy adjustments are aimed at boosting revenue generation, streamlining port operations, and aligning with global trade practices. The Service has called for stakeholder engagement to address concerns and ensure smooth implementation.
