MAN – Nigeria Customs Sign Policy Document for Supporting Manufacturing Sector
One of the major announcements from the meeting was the approval of strategic exemptions from the 4% FOB surcharge for several categories of manufacturers.
One of the major announcements from the meeting was the approval of strategic exemptions from the 4% FOB surcharge for several categories of manufacturers.
Ajayi-Kadir emphasised that while the government sees the tax stamp as a way to curb smuggling and counterfeiting, and to enhance transparency, the global evidence does not support its efficacy.
We urge the governors to prioritise infrastructure development, particularly in industrial areas. Power supply remains a major challenge in states like Osun, while road networks, water access, and storage infrastructure in Ondo require urgent attention.”
The Association urges the Nigeria Customs Service (NCS) to swiftly communicate the directive to all relevant commands, so that the charge will go off its portal.
The association noted that in the West African sub-region, comparable economies such as Ghana, Côte d’Ivoire, and Senegal have maintained targeted inspection or collection fees within the 0.5% to 1% FOB range, imposing higher levies only on luxury or non-essential imports.
The manufacturers emphasized that it has become a matter of national interest for the project’s contractor to ensure strict adherence to the Executive Orders 003, 005 and the imperatives of the President Bola Ahmed Tinubu’s Nigeria First Policy.
Members of the Manufacturers Association of Nigeria in Kano State are poised to bypass the DisCos in the state for direct power supply from the Niger Delta Power Holding Company. The Managing Director of Dala Foods, Kano, Ali Madugu, bore the minds of the manufacturers when he led a delegation, to the management of the…
The dialogue concluded with recommendations including the need for MAN and the Joint Tax Board to develop a harmonised framework for nationwide adoption, stronger sensitisation campaigns, provision of dedicated help lines for transporters, and periodic stakeholder engagement to review progress.
Ajayi-Kadir made the disclosure during the 58th yearly general meeting of the Ikeja Branch of the association, yesterday, blaming the development on ‘glitch’ within the customs service.
Political will is essential. Without legislation and effective implementation of a progressive automotive policy, the country risks an unchecked influx of grey imports and reduced investor confidence in the sector.