By Steve Agbota
The Nigeria Customs Service (NCS), on Friday, exempted spare parts of commercial airlines operators, importers of raw materials, and government projects with Import Duty exemption certificates from paying the four per cent Free On Board (FOB).
Addressing the media in Lagos after consultation with the leadership of the Manufacturers Association of Nigeria (MAN) led by Otunba Francis Meshioye, the Customs CG listed the exempted manufacturers and importers as those that import raw materials, spare parts, and machines over the suspension of the four per cent FOB payment.
He also disclosed that goods imported for humanitarian, life saving and other related purposes, as well as beneficiaries of the Presidential Initiative for unlocking Healthcare value chain, were also exempted from the payment.
According to him, after consultations with the Minister of Finance and the Coordinating Minister of the Economy, approval has been given granted for strategic exemptions from the four percent FOB charges.
“Importation of raw materials, spares, and machines by the manufacturers who are beneficiaries of concessions contained in Chapters 98 and 99 of the Customs Tariff. Manufacturers who are currently on chapters 98 and 99 are advised to apply for pre-release of the consignment to avoid payment of demurrage.
“Members of MAN, who import raw materials, machinery, and spares that are not currently on chapters 98 and 99 to be on boarded to enjoy the exemptions provided in 5(i) above. MAN, NCS, and the Federal Ministry of Finance will work together for the inclusion of manufacturers currently not in chapters 98 and 99.
“An immediate tripartite consultation of the Federal Ministry of Finance, NCS, and MAN would be held immediately to work out the modalities for expedited onboarding of manufacturers on chapters 98 and 99,” he explained.
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