The Importers Association of Nigeria (IMAN) has raised alarm over the Federal Government’s planned 4% Free on Board (FOB) levy on imports, warning it could add ₦4 trillion annually to freight costs. At its National Executive Committee meeting, IMAN President Chief Gilbert Obi described the levy as a dangerous policy that will burden consumers and cripple industries.
The new levy replaces the 15% Comprehensive Import Supervision Scheme (CISS) but is seen by stakeholders as costlier. Obi noted that peer countries like Ghana impose just a 1% levy, while in Nigeria the hike is already inflating costs of vehicles, spare parts, and machinery. For instance, clearing agent license renewals have jumped from ₦215,000 to ₦4m, while freight forwarder licenses soared from ₦500,000 to ₦10m.
IMAN warned that the levy would worsen inflation, destabilise the naira, disrupt supply chains, and undermine productivity. Consumers will directly bear the brunt, with the cost of used vehicles like the 2006 Toyota Corolla now ranging from ₦6m to ₦9m. Critics also questioned Customs’ justification that the levy will fund its “B’odogwu” software, calling the platform unreliable and noting it may become obsolete by January 2026 when the Federal Inland Revenue Service (FIRS) assumes revenue collection. IMAN urged government to reconsider, stressing that patriotism, professionalism, and fair economic policy must guide reforms.
