4% FOB Charge Suspension: MAN Commends Federal Government
The Manufacturers Association of Nigeria (MAN) has commended the Federal Government and the Minister of Finance & Coordinating Minister for the Economy over the suspension of the recently reintroduced 4% Free-on-Board (FOB) charge on imports, which came into effect on August 4, 2025.
In a statement, MAN’s Director General, Segun Ajayi-Kadir, mni, described the move as a major relief for members of the Association and the wider manufacturing sector, which had expressed deep concern over the imposition.
“The suspension has brought instant succour and encouragement to the manufacturing community in Nigeria and is great news to the business environment,” he said. “The Minister just saved our country from a self-inflicted price escalation that could have unsettled the widely acknowledged stability and repurposing this administration has achieved. Though it was meant to boost the much-needed government revenue, the charge is akin to an ‘own goal’ in a football match.”
Ajayi-Kadir also expressed optimism that the Nigeria Customs Service (NCS) would promptly communicate the directive across all its commands and ensure the charge is removed from its portal, while stakeholders await the full restoration of the B’Odogwu platform.
He noted that the charge, if allowed to stay, would have triggered a significant increase in the cost of raw materials, machinery, and spare parts not available locally, thereby burdening manufacturers and stifling production.
