FG Suspends 4% Free on Board Levy on Imports

The federal government has suspended the newly introduced 4% Free on Board (FOB) levy on imported goods.

The decision, announced by R. O. Omachi, permanent secretary in the finance ministry on Monday Evening, follows consultations with stakeholders who warned the levy could worsen inflation, hurt trade, and burden businesses.

The suspension allows for further review and engagement to create a fairer revenue framework.

Details later!!!!