The Nigeria Customs Service (NCS) has recognized the crucial contributions of stakeholders in developing and implementing the Nigeria Customs Service Act (NCSA) 2023. This new legislation, which replaces the long-standing Customs and Excise Management Act (CEMA), was shaped through extensive consultations and collaboration with industry players, government agencies, and other key partners.
In a statement, NCS emphasized that the NCSA 2023 introduces a more efficient legal framework aimed at enhancing transparency, promoting innovation, and improving customs operations in Nigeria.
As part of the Act’s implementation, the NCS has introduced a 4% charge on the Free On-Board (FOB) value of imports, in accordance with Section 18 (1) of the NCSA 2023. The FOB charge, which is calculated based on the total cost of imported goods and transportation expenses up to the port of loading, is expected to support the agency’s operational efficiency.
READ ALSO: NIGERIA:FG UNVEILS SME LOAN INITIATIVE TO BOOST SMALL BUSINESSES
Addressing concerns from stakeholders regarding the continued collection of the 1% Comprehensive Import Supervision Scheme (CISS) fee alongside the 4% FOB charge, the NCS assured that discussions are ongoing with the Federal Ministry of Finance to resolve these concerns. The agency reiterated its commitment to fair trade practices and efficient revenue management under the leadership of Comptroller-General Bashir Adewale Adeniyi.
The NCS called on stakeholders to support the implementation of the NCSA 2023, emphasizing that the new measures were carefully designed through collaborative efforts with industry players, importers, and regulatory bodies.
