The Nigeria Customs Service (NCS) and the Manufacturers Association of Nigeria (MAN) have held a productive strategic engagement to strengthen collaboration in support of Nigeria’s industrial growth and economic development objectives.
The meeting was convened following the Ministry of Finance’s directive regarding the temporary suspension of the 4% FOB charge, which provided an opportunity for comprehensive stakeholder consultation.
Key Outcomes
The meeting resulted in several key outcomes, including:
Strategic Exemptions: Approval has been granted for strategic exemptions from the 4% FOB charges on importation of raw materials, spares, and machines by manufacturers who are beneficiaries of concessions contained in Chapters 98 and 99 of the Customs Tariff.
Onboarding of Manufacturers: MAN, NCS, and the Federal Ministry of Finance will work together to onboard manufacturers who are not currently on Chapters 98 and 99 to enjoy the exemptions.
Tripartite Consultation: An immediate tripartite consultation will be held to work out the modalities for expedited onboarding of manufacturers on Chapters 98 and 99.
Trade Facilitation Initiatives
The NCS briefed MAN on various trade facilitation initiatives, including :
Economic Operator Programme (AEO): A program aimed at enhancing the security and efficiency of international supply chains.
Advance Ruling: A system that provides clarity and certainty on customs procedures and tariffs.
Time Release Study: A study aimed at measuring the time it takes for cargo to be released from customs control.
Commitment to Collaboration
Both organizations have committed to establishing formal consultation mechanisms to ensure regular dialogue on policy developments affecting manufacturing operations.
The meeting emphasized the importance of economic impact considerations, with both organizations committed to supporting Nigeria’s economic diversification objectives .
