The Federal Government has suspended the controversial 4% Free-On-Board (FOB) levy on imports, following widespread criticism from traders, manufacturers, and industry stakeholders who warned that the policy would drive inflation and worsen the cost of living for Nigerians.
Announcing the suspension, the Ministry of Finance explained that the decision would create room for further consultations with the private sector before any final action is taken. Economic analysts say the move shows government’s attempt to strike a balance between raising revenue and addressing the harsh economic realities faced by households and businesses across the country.
Meanwhile, Nigerians seeking international passports may soon breathe a sigh of relief as the Nigeria Immigration Service (NIS) has launched a new Centralised Passport Personalisation Centre, designed to boost efficiency and eliminate delays.
According to the Ministry of Interior, the new facility is capable of producing up to 5,000 passports daily—far above the previous output. With the system in place, many applicants could now obtain their passports within just 24 hours of approval.
The reform, officials say, will help reduce corruption often associated with passport processing, ensure more uniform and secure travel documents, and align Nigeria’s passport system with global best practices.
Together, both developments—on trade policy and identity management—are being seen as part of broader government efforts to ease economic pressures and modernise critical sectors affecting everyday Nigerians.
Report by: Kendrick Ovie | Edited by: Chris Odjomah