Nigeria suspends FOB levy on imports after industry backlash

LAGOS, Sept 16 (Reuters) – Nigeria’s finance ministry has ordered the immediate suspension of a levy on all imported goods, which companies had said would raise the cost of doing business and crimp economic recovery efforts.
Finance Minister Wale Edun said in a directive issued late on Monday that the 4% Free on Board (FOB) levy, introduced by the Nigeria Customs Service (NCS) last month, should be suspended to address the concerns raised by businesses.
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