The Importers Association of Nigeria (IMAN) has warned that the proposed 4 percent free-on-board (FOB) levy could increase freight costs by as much as N4 trillion annually, a burden likely to be passed directly to Nigerian consumers.
IMAN President and Chairman of the Board of Trustees, Chief Gilbert Obi, speaking at the association’s National Executive Committee meeting, cautioned that the policy would worsen inflation, disrupt supply chains, and weaken productivity.
He argued that replacing the 15 percent Comprehensive Import Supervision Scheme (CISS) with a 4 percent FOB levy amounts to a heavier cost for importers, noting that peer economies like Ghana charge only one percent.
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Obi stressed that the levy will push up prices of essential imports such as gas, spare parts, machinery, and raw materials, with negative ripple effects across industries and households. He cited current examples where clearing agents now pay N4 million for license renewals instead of N215,000, while freight forwarder licenses have risen from N500,000 to N10 million.
According to him, Customs has defended the levy as part of its modernization programme, built on a platform called B’odogwu. Stakeholders, however, dismiss the system as ineffective and question why trillions should be committed to it when the Nigerian Revenue Service is expected to assume collection duties in January 2026.
The IMAN leadership also addressed internal disputes within the association, with Obi urging members to act professionally and avoid further factional divisions. He said the decision to convene the executive council meeting followed months of patience and restraint during prolonged disagreements.
IMAN maintains that the levy, if implemented, risks destabilizing Nigeria’s import-dependent economy and further eroding the naira.
