1 week ago
23
The Nigeria Custom Service (NCS) has been commended for its prompt response in suspending the four per cent Free on Board (FOB) levy on imports into Nigeria.
The Lagos Chamber of Commerce and Industry (LCCI) gave the commendation, stating that the decision is a positive response to the concerns raised by the business community regarding the adverse economic implications of the levy on trade, investment, and a conducive business environment.
Dr. Chinyere Almona, the Director-General, LCCI, stated that following the Chambers media statement and formal engagements with relevant authorities, it is pleased that the NCS has taken swift action to suspend the levy.
“This demonstrates a commitment to stakeholder engagement and responsiveness to the realities facing businesses operating in Nigeria. With the drive to curb our rising inflation, any additional cost to businesses should be avoided at this time.
She stated that as an advocate for a conducive business environment, the LCCI remains committed to constructive dialogue with government agencies to ensure policies that foster economic growth, enhance trade efficiency, and promote ease of doing business.
“We urge continued collaboration between policymakers and the private sector in shaping regulatory frameworks that support sustainable economic development.
“We appreciate the Nigeria Customs Service for listening to the concerns of businesses and taking decisive action in the interest of economic stability.
Almona added that the Chamber will continue to engage with all relevant stakeholders to ensure policies that support Nigeria’s economic growth and competitiveness in the global market.
She thereby urged the government to continue prioritizing policies that create an enabling environment for businesses, attract investment, and stimulate economic growth. “The LCCI remains committed to collaborating with the government to drive policies that support Nigeria’s economic advancement and global competitiveness,” she stated.
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