Tincan Island Port Sensitizes Importers, Agents on 4% FOB Requirement

Tincan Island Port Sensitizes Importers, Agents on 4% FOB Requirement

By prince Benson Davies

As part of efforts to enhance compliance and facilitate seamless trade, the Tincan Island Port has launched a sensitization campaign to educate stakeholders on the 4% Freight on Board (FOB) policy. Led by Comptroller Frank Onyeka the port has successfully engaged a broad spectrum of stakeholders, including importers, customs agents, brokers, shipping agents, and other industry players. This initiative aims to promote a deeper understanding of the 4% FOB requirement, addressing concerns and clarifying procedures to ensure smooth operations at the port.

A press statement by the Public Relations officer of the Command, Mr Oscar Ivara, it was disclosed that interactive sessions were held at the Command on Thursday February 6, and Friday, February 7, 2025, to sensitise stakeholders on the operational implications of those new initiatives.

The statement noted that those developments were aimed to streamline the agency’s processes while improving efficiency and transparency within the trade and importation landscape.

Comptr.Onyeka stressed the importance of those reforms, particularly the 4% FOB levy, which applies to the value of goods at the point of import.

According to him, the 4 per cent FOB levy, which was provided for in Section 18 of the Nigeria Customs Service Act 2023, was expected to boost the operational efficiency of the service in line with International best practices.

Speaking further, he noted that the introduction of the B’Odogwu Clearance System was highlighted as a step towards modernizing the Customs clearance process while reducing bottlenecks and enhancing compliance, noting that the scheme would soon be launched in the Command.

Revenue generation under the present command, Comptr.Onyeka disclosed that in January 2025, the command successfully generated about N116.4 billion, representing a significant increase when compared with the N88.4 billion recorded in January 2024. He was confident that the command would surpass its 2025 annual target of N1.524 trillion.On some of the reforms introduced at the Command so far, Comptr.Onyeka said he was creating a more trade-friendly environment for all Port activities to strive for, reiterating that the era of multiple alerts were over, and stressed that honest declarations and thorough examinations must be emphasized.

He promised to continue to engage stakeholders, as according to him, “this is a crucial part of ensuring the success of these initiatives,”.

Speaking further, he said, “Through constant collaboration and feedback, we aim to address concerns, foster a better understanding of the processes, and ultimately ensure smooth implementation of these policies.”He hinted that “the directives from the Comptroller General of Customs, Mr Adewale Adeniyi, to initiate these consultations underscore the commitment of the organisation to transparency, effective communication, and partnership with stakeholders as it navigates through the evolving landscape of international trade.