The Manufacturers Association of Nigeria (MAN) has joined the legion of stakeholders currently applauding the federal government for suspending the reintroduced 4 per cent Free-on-Board charge on imports.
According to the association, the move will help crash the costs of local production, deepen domestic value chain addition and ultimately galvanise economic diversification.
The Director General of MAN, Segun Ajayi-Kadir, said as an association representing the interests of manufacturers across various sectors, it believes that the decision will have a positive impact on the sector, enabling businesses to remain competitive and grow.
“We applaud the government for listening to the concerns of stakeholders and taking swift action to redress the issue.” Ajayi-Kadir noted that this move comes as a relief to members of the association and the broader manufacturing sector, which has been anxiously concerned about the imposition of the charge.
“The Association is confident that the Nigeria Customs Service (NCS), in keeping with its ongoing commendable reforms will swiftly communicate the directive to all relevant commands, so that the charge will go off its portal, while we earnestly await the full restoration of the B’Odogwu platform.”
