The Nigeria Customs Service (NCS) has announced the waiver of the 4% Free On Board (FOB) charges for scheduled airline operators as well as importers of raw materials in the country.
Items exempted in the new waiver regime include spare parts for commercial Airlines, raw materials for manufacturing, and items for government projects.
This exemption is expected to provide relief to airlines operating in Nigeria, who have been grappling with the additional cost imposed by the levy.
The waiver is also anticipated to have a positive impact on the aviation sector, as well as those in the manufacturing sector, as they will now be able to reduce their operational costs.
According to the NCS, the exemption is part of efforts to support the growth and development of the aviation and manufacturing sectors in Nigeria.
The NCS has assured stakeholders that the waiver will be implemented immediately, and that airlines will no longer be required to pay the 4% FOB charges on their imports.
This was disclosed by the Comptroller General of Customs, Bashir Adewale Adeniyi, in a jointly signed statement on the consultation held between the service and the Manufacturers Association of Nigeria (MAN) over the suspension of the 4 per cent FOB payment.
