Business

MAN Accuses NCS, NPA Not Giving Priority to Trade Facilitation

Published

11 months ago

February 11, 2025

235 Views

The Manufacturers Association of Nigeria (MAN) said this morning that some of the government’s agencies are not “walking the talk” on ease of doing business, citing the recent introduction and implementation of the 4% Free-on-Board Levy by the Nigeria Customs Service ( NCS) and the NPA 15 percent ports tariff.

Segun Ajayi-Kadir, the Director-General of MAN, stated that the Association views those development as an unfortunate addition to the 1% Comprehensive Import Supervision Scheme (CISS) fee being paid by its members at a time that all Government agencies should be seeking ways to deescalate cost of doing business in Nigeria, as it is being done in other economies.

Ajayi-Kadir noted: ” It is equally worrisome that this is coming at a time when there is a planned 15% hike in port charges and industries are struggling with the astronomical increase in the effective import duty calculations rate.

” We had expected that the NCS would give priority to trade facilitation in view of the prevailing economic downturn, rather than exacerbating the spiraling cost of production.”

The statement reads: “This is in view of its potential wider implications on the economy in the form of low productivity, increased unemployment rate and consequent higher propensity to criminal activities and insecurity, not to mention the negative impact on the disposable income of the overall economic wellbeing of the over 220 million Nigerians.

We had expected that, in line with the prevailing economic reform agenda of government that seeks to streamline fiscal policies and engender a progressive and business friendly tax regime, we should be witnessing a winding down of regulatory and official fees by government agencies and institutions.

All government institutions should recommit to the reduction of the cost of doing business, expanding the scope of businesses and broadening the nation’s revenue base.

Our aversion to the introduction of the levy is further predicated on the following reasons:

1. The already high rate of calculating the customs duty exchange rate and the new levy will further escalate the cost of imported raw materials, which had earlier jumped by over 118 percent from ₦2.07 trillion in the first nine months of 2023 to ₦4.53 trillion in the same period of 2024.

2. The levy will cause heavy disruption in supply chain, trigger raw materials stock-out in many manufacturing concerns, inflict higher cost of demurrage, further increase the huge volume of unsold inventories and worsen the competitiveness of Nigerian manufacturers.
3.The levy is coming at a time when the headline inflation has hit a historic record of 34.8 percent in nearly three decades and majority of Nigerians are struggling. Therefore, the impact on the cost of locally produced items will be instant and far reaching.

4.The introduction of the levy contradicts the principles of the ongoing Fiscal Policy and Tax Reforms and the spirit behind the tax bills currently being considered by the National Assembly.

These efforts are targeted at eliminating multiplicity of taxes and reduction of tax burden for households, manufacturers and other private businesses.

As an addition to the existing 1% CISS fee, extant duties and other cargo clearance charges, the new Customs Operations levy will increase import transaction costs, compound the already high cost of doing business significantly.
The introduction of the levy is an additional incentive to smuggling, trade diversion, under declaration of duty and other trade infractions that has bedeviled our country, stretched the capacity of our Customs Service and undermined the revenue profile of the country.
It will jeopardize the plan of the Federal Government to boost forex earnings through non-oil export, as many manufacturing exporters rely on imports for vital inputs and machines that are not available locally.
The levy will jeopardize our aspiration to be an investment destination of choice and an industrial hub in the West African sub-region.

The need to increase government revenue is not lost on manufacturers. We have consistently advocated for the expansion of the tax base and not introduction of new taxes or increase in existing ones. It is not helpful to kill the goose that lays the golden egg.

Appreciable improvement in trade facilitation infrastructure and processes would encourage significant increase in volume of transactions and give rise to the much needed revenue for Government.

This is the way to go. It is in view of the foregoing that we implore the Federal Government to urgently direct the Nigeria Customs Service to halt the implementation of the 4% Free-on-Board Levy.

We equally urge Mr. President to direct the Service to engage with relevant stakeholders and the Presidential Committee on Fiscal Policy and Tax Reform in order to align with the ongoing landmark and wholesale reform agenda of Government.

Related Topics:MAN Accuses NCS NPA Trade Facilities

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Heineken boss resigns after ‘turbulent’ six-year stint

“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.

Published

9 hours ago

January 12, 2026

OCHEFA

13 Views

• Dolf Van den Brink

Dolf van den Brink said on Monday he would step down on May 31 as the chief executive of Dutch brewer Heineken.

Van den Brink unexpectedly announced his resignation, as the company grapples with lower beer sales and job cuts in a difficult economic environment.

“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.

The change of leader comes at a tricky moment for Heineken, the world’s second-largest brewer after AB InBev.

Its most recent quarterly results, published in October, showed a steep decline in the amount of beer sold, with Europe and the United States driving the drop.

Van den Brink acknowledged at the time that the firm was dealing with a “challenging environment, resulting in a mixed performance”.

Heineken posted total net sales of 7.3 billion euros ($8.5 billion) for the third quarter, down from 7.6 billion in the second quarter.

Business

Global oil reserves: Nigeria down to 11th position in latest rankings

According to report, Nigerian oil reserves haven’t grown significantly for years, failing to replace daily extraction.

Published

16 hours ago

January 12, 2026

OCHEFA

19 Views

Stagnation in Nigeria’s crude oil reserve for decades has placed the country to 11th position on the global rankings of oil producing countries.

The United States occupy the 10th position with 45 billion barrels of proven oil reserve.

Crude oil reserve data computed from OPEC’s Annual Statistical Bulletin 2025, reveals that Nigeria sits as the 11th country with 37.28 billion barrels proven oil reserve in the world.

Likewise, official figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) places it at 37.28 billion barrels as of January 2025.

In a report published recently by Visual Capitalist.com, Venezuela holds the world’s largest proven oil reserves, accounting for an estimated 303 billion barrels of proven oil reserves, the largest of any country.

These reserves account for roughly 17% of the global total, well ahead of Saudi Arabia 267 billion barrels ; Iran 209 billion barrels, Canada 163 billion barrels , and Iraq 113 billion barrels.

Chart credit: Visual capitalist.com

According to report, Nigerian oil reserves haven’t grown significantly for years, failing to replace daily extraction.

Oil theft, vandalism, and insecurity hinder efforts to reach full production potential.

Nevertheless, the NUPRC aims to boost reserves and production, with plans to attract investment for new exploration and development.

Business

Wema Bank Plc launches major upgrade to its flagship digital banking platform, ALAT by Wema.

Published

16 hours ago

January 12, 2026

Charles Flames

21 Views

Wema Bank Plc has officially launched a major upgrade to its flagship digital banking platform, ALAT by Wema, introducing cutting-edge features including voice banking, Tap and Pay contactless payments, and predictive uptime capabilities.

Tagged “ALAT: The Evolution”, the revamped app (also referred to as ALAT 2.0) marks a significant step forward in Nigeria’s digital banking landscape. The upgrade integrates an AI-powered voice assistant called SAW (Smart ALAT by Wema), enabling users to perform banking tasks using natural voice commands—such as checking balances, transferring funds, or reviewing transactions—similar to popular assistants like Siri or Alexa.

This hands-free functionality aims to reduce friction, boost accessibility, and deliver a more intuitive experience for everyday users.

The update also rolls out Tap and Pay, a secure and convenient contactless transaction feature that allows quick payments by tapping compatible devices together. Complementing these innovations is predictive uptime, a transparency tool that forecasts service availability, helping build greater customer confidence in the platform’s reliability.

Announcing the launch, Mr. Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, described the upgrade as more than a technical enhancement.

“ALAT: The Evolution is a clear demonstration of our commitment to redefining digital banking in Africa,” he said. “By understanding the future of banking and listening closely to our customers, we have upgraded ALAT by Wema to a digital banking platform that is smart, intelligent, and dependable.”

Mr. Olusegun Adeniyi, Chief Digital Officer at Wema Bank, emphasized the user-focused design: “With ALAT: The Evolution, we set out to enhance not just functionality but the overall banking experience. By integrating voice banking, contactless payments, and predictive reliability, we are delivering a platform that is built on powerful technology and responds intelligently to customer needs.

“The upgraded app is now available for download or update on the Google Play Store and Apple App Store. Existing users can simply update their app and log in with their current credentials—all account information and transaction history remain intact—while new customers can onboard seamlessly.

Since its debut in 2017 as Africa’s first fully digital bank, ALAT has transformed financial services for millions of Nigerians. This latest evolution reinforces Wema Bank’s position as a pioneer in innovative, customer-centric digital banking amid growing competition in the sector.