A Sudden U-Turn in Policy In a surprising move, the Nigerian government has put a pause on its newly introduced 4% Free On Board (FOB) levy on imports. The levy, barely weeks old, sparked outrage among traders, manufacturers, and everyday Nigerians worried about skyrocketing prices. With pressure mounting from all corners of the economy, the government pulled the brakes on the tax, leaving everyone wondering: what next? Why the Fuss Over 4%? On paper, 4% doesn’t sound like much. But when stacked on top of customs duties, surcharges, and other fees, the FOB levy threatened to make imported goods dramatically more expensive. For a country that imports everything from machinery to medicine, the implications were massive. Businesses feared the levy would: Inflate production costs Squeeze small importers out of the market Drive up consumer prices in a country already battling high inflation The Business Perspective Importers welcomed the suspension, saying the levy was “the last...