LCCI Urges FG to Suspend 4% Customs Charge

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to suspend the newly introduced 4% Comprehensive Import Supervision Scheme (CISS) charge on imports, warning that it will worsen production costs and stifle business growth.

In a statement, LCCI argued that the additional levy would place an undue burden on importers, manufacturers, and consumers, leading to higher prices of goods and increased inflation. The chamber stressed that businesses are already struggling with multiple taxes, forex instability, and rising logistics costs, making it difficult to absorb further financial pressures.

The CISS charge, introduced as part of the government’s revenue drive, requires importers to pay 4% of their total cost, insurance, and freight (CIF) value on imported goods. However, industry stakeholders have criticized the policy, stating that it could discourage trade, disrupt supply chains, and make locally produced goods less competitive.

LCCI urged policymakers to engage with the private sector before implementing fiscal policies that could harm economic growth. It also recommended alternative revenue strategies that would not increase the cost of doing business in Nigeria.

As discussions continue, importers and manufacturers are hoping for a review of the policy to prevent further economic strain and ensure a more business-friendly environment.