The Nigeria Employers’ Consultative Association (NECA) has applauded the Federal Government for suspending the Nigeria Customs Service’s four per cent Free-on-Board (FOB) charge on imports. The suspension, ordered by Finance Minister Wale Edun, was described as a necessary step to safeguard trade facilitation, economic stability, and the overall business climate.
NECA’s Director-General, Adewale-Smatt Oyerinde, speaking in Lagos, said the move, alongside the earlier withdrawal of the proposed five per cent telecom tax, shows the administration’s resolve to strengthen private enterprise, promote competitiveness, and expand job creation. He urged the Customs Service to immediately implement the directive.
The association further called on other government agencies to align with the Renewed Hope Agenda by reversing unnecessary charges that burden businesses. It expressed concern that the Financial Reporting Council of Nigeria has yet to comply with a Presidential directive suspending certain levies, warning that such defiance undermines economic reforms.
NECA reaffirmed that organised businesses remain committed to driving Nigeria’s growth through investment, trade, and constructive policy engagement.
