Consumers To Pay More After NCS Reviews FOB, Licensing Fee Hike

Importing goods into Nigeria will cost more ever after the Nigeria Customs Service (NCS) revives four per cent Free on Board (FoB) charge and plans licensing fee hike for agents.

The FOB charge, passed as law, is calculated based on the value of imported goods, including transportation costs up to the port of loading. The NCS revived the controversial tariff earlier this month to replace the one percent Comprehensive Import Supervision Scheme (CISS) and seven percent charge on its duties.

According to Comptroller-General of Customs, Bashir Adeniyi, It is supposed to “serve investments in technology but the immediate effects will be felt further down the value chain.

A Customs agent and Senior Special Adviser on Media to the Association of Nigerian Licensed Customs Agents (ANLCA) President.

Sulaiman Ayokunle, said Nigerians should prepare to pay more “Nigerians should brace themselves as they will pay more. The implication is that whatever they were paying before, there is now a four percent addition on it, ”he said.

COURTESY: businesstodayng.com