The Lagos Chamber of Commerce and Industry (LCCI) has commended the Federal Government for suspending the four per cent Free on Board (FOB) levy on imports, urging sustained policy reforms to enhance Nigeria’s business environment......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The Chamber acknowledged the Nigeria Customs Service (NCS) for its swift response in addressing concerns raised by the business community regarding the levy’s economic impact.
The LCCI Director-General, Dr. Chinyere Almona, noted that the suspension reflects the government’s commitment to stakeholder engagement and responsiveness to economic realities.
“With rising inflation, it is crucial to avoid additional costs that could further burden businesses,” Almona stated.
She emphasized the importance of continuous dialogue between policymakers and the private sector to foster economic growth, enhance trade efficiency, and promote ease of doing business.
The Chamber called for more collaboration in shaping regulatory frameworks that support sustainable economic development.
LCCI also urged the government to prioritize policies that attract investment and create an enabling environment for businesses.
The Chamber reaffirmed its commitment to engaging with relevant stakeholders to ensure policies that strengthen Nigeria’s economic growth and competitiveness in the global market.
“We appreciate the Nigeria Customs Service for considering the concerns of businesses and taking decisive action in the interest of economic stability,” Almona added.
She further stressed the need for continuous reforms that support local industries and enhance trade facilitation.