Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Nigeria suspends 4% import levy amid business backlash over inflation and trade concerns.

flag Nigeria has suspended the 4% Free on Board import levy introduced by the Nigeria Customs Service, following widespread criticism from businesses and trade groups. flag The move, directed by Finance Minister Wale Edun, aims to address concerns that the levy would increase inflation, raise import costs, and harm trade competitiveness. flag The suspension allows for a review of the levy’s framework and economic impact, with the government working with stakeholders to develop a more equitable revenue measure. flag The charge, initially introduced to fund customs modernization, faced backlash for its negative effects on businesses and the broader economy.

19 Articles