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Government Suspends 4% FOB Levy After Backlash, Reviews Revenue Measures
ABUJA, Nigeria — The federal government has suspended the controversial 4% Free on Board (FOB) levy after strong criticism from exporters, businesses, and trade groups.....KINDLY READ THE FULL STORY HERE▶
The levy, which was introduced as part of new revenue measures, was meant to generate funds from export activities. But many business leaders argued it would raise costs, discourage trade, and hurt Nigeria’s competitiveness in international markets.
In a statement Friday, the Ministry of Finance confirmed the suspension and said the government is reviewing all recent revenue policies to reduce hardship on businesses. The decision followed weeks of complaints from exporters who warned the levy could lead to job losses and lower foreign exchange earnings.
“We have listened to stakeholders, and we are taking their concerns seriously,” the ministry said. “The levy has been suspended while we carry out further consultations and review our revenue framework.”
Exporters welcomed the suspension, calling it a relief. The Manufacturers Association of Nigeria had earlier described the levy as “unrealistic and harmful,” noting that most exporters already face high energy costs, multiple taxes, and foreign exchange shortages.
“The government made the right decision,” said one Lagos-based exporter of agricultural products. “We want policies that encourage exports, not punish them. Nigeria needs more foreign exchange, not less.”
The suspension comes as the government faces pressure to raise revenue without worsening the economic struggles of businesses and households. Nigeria is battling high inflation, weak currency, and low oil output, which have all strained public finances.
Experts say the move signals a more cautious approach to tax reforms. While the government is seeking new ways to boost non-oil revenue, economists warn that sudden levies can backfire if they drive businesses away or encourage smuggling.
“This is a balancing act,” said an Abuja-based economist. “Nigeria must expand its tax base, but it also needs to keep industries alive. Policies must be predictable, transparent, and fair.”
The finance ministry said it will engage more closely with exporters, manufacturers, and trade unions before introducing any new tax measures. Officials also promised to simplify revenue collection to avoid overlapping charges.
Analysts believe the suspension will calm business tensions in the short term. However, they note that Nigeria still faces a large funding gap, especially with growing debt service costs. The government will likely look for alternative ways to generate income, possibly through digital taxes, customs reforms, or tightening tax compliance.
For now, exporters say they are relieved that the levy will not go into effect. But many remain cautious, waiting to see what new policies the government will propose.
“Dialogue is key,” said a trade association leader. “If the government works with us, we can find solutions that grow the economy and raise revenue at the same time.”
The review of revenue measures is expected to continue in the coming months. Businesses and investors will be watching closely to see how the government balances the need for revenue with the goal of supporting economic growth.
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Desperation Reaches Boiling Point: ACF Reveals Nigerians Have Given Up On Safety, Turning To Vigilante Justice!.
Tukur Mohammed-Baba, the National Publicity Secretary of the Arewa Consultative Forum (ACF), has expressed deep concern that Nigeria’s security situation is deteriorating. During an appearance on Arise News, he argued that citizens are increasingly turning to self-help for protection because they no longer believe the government will safeguard them.....KINDLY READ THE FULL STORY HERE▶
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Failure of State Protection: Mohammed-Baba highlighted that bandits in rural areas of Sokoto, Katsina, and Zamfara are imposing illegal levies and preventing farmers from accessing their land.
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Scale of the Threat: He cited research indicating that over 30,000 terrorists are operating within the country’s ungoverned rural spaces, while government efforts—such as recent plans to deploy 1,000 forest guards across seven states—are insufficient.
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Distrust in Governance: The spokesman criticized the current administration’s economic policies, describing their impact on living standards as “highly disappointing, if not disturbing”.
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Systemic Issues: Beyond security, he noted that the education sector is failing, with out-of-school children, poor infrastructure, and unpaid teachers compounding the crisis.
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Normalized Desperation: He warned that society is gradually normalizing a state where citizens must defend themselves, which he believes fundamentally undermines the core role of the state in protecting its people.
As Alex Iwobi approaches his 100th cap for Nigeria, he has identified his decisive goal against Zambia in 2017—which clinched Nigeria’s spot in the 2018 FIFA World Cup—as the most memorable moment of his international career.....KINDLY READ THE FULL STORY HERE▶
ere are the key details regarding his landmark achievement and career reflections:
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Elite Company: When Nigeria faces Portugal in Leiria this Wednesday, Iwobi will become only the fourth player to reach the 100-cap milestone, joining Ahmed Musa, Vincent Enyeama, and Joseph Yobo.
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International Journey: Iwobi, who initially represented England as a youth player, made his senior debut for Nigeria on October 8, 2015, in a friendly against DR Congo.
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Choosing Nigeria: The midfielder expressed pride in his decision to play for Nigeria, noting that his family, particularly his father, supported his choice to follow where he felt “at home”.
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Career Highlights: Reflecting on his near 11-year tenure with the Super Eagles, Iwobi noted that while he would have liked to win the AFCON, he has no regrets, having earned a silver medal in 2023 and bronze medals in 2019 and 2025.
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Statistical Impact: Entering his 100th appearance, Iwobi has recorded 10 goals and eight assists across his 99 games for the national team.
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A New Dawn For Electricity? Minister Tegbe Hits The Ground Running, Promises Total Transparency In Power Reforms!.
The newly appointed Minister of Power, Joseph Olasunkanmi Tegbe, has pledged to deliver noticeable improvements in electricity supply across the country, emphasizing that the government is working tirelessly to resolve the sector’s long-standing issues. Following his swearing-in by President Bola Tinubu, Tegbe cautioned that while there is no “magic wand” for an immediate fix, the administration’s ongoing efforts will soon yield tangible results.....KINDLY READ THE FULL STORY HERE▶
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Commitment to Progress: While acknowledging that 24/7 power is not an immediate promise, Tegbe assured that the government is focused on achieving visible progress in generation, transmission, and distribution.
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Recent Gains: The Minister noted that reports already indicate improved electricity supply in various regions over the last few weeks, which he attributes to President Tinubu’s leadership and the dedication of Ministry officials.
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Stakeholder Engagement: Over the past four weeks, Tegbe has actively engaged with key agencies, including the Transmission Company of Nigeria (TCN), the Rural Electrification Agency (REA), and the Nigerian Electricity Regulatory Commission (NERC), to secure commitments for reform.
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Operational Successes: Highlighting recent progress, Tegbe pointed to the rapid restoration of a feeder station in Katampe and the reactivation of the Niger Delta Power Holding Company after three years of inactivity as evidence of the sector’s renewed commitment.
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Call for Patience: Tegbe appealed to Nigerians for patience, prayers, and public support as the administration works to overcome these deep-seated challenges.
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