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Nigeria suspends the FOB levy after business backlash

The Nigerian government has suspended the 4% Free On Board (FOB) levy on imports due to heavy objections from importers, business groups, and other industry stakeholders. 
• The levy was seen to risk increasing inflation, raising business costs, and dampening Nigeria’s trade competitiveness. 
• The suspension comes amid growing pressure for more fair and efficient revenue systems, especially as oil revenues decline. 

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