The Nigeria Customs Service Board (NCSB) has approved a 300 dollar duty-free limit for imports, a new policy that takes effect on Sept. 8.
The Spokesperson of the Nigeria Customs Service (NCS), Abdullahi Maiwada, in a statement on Sunday in Abuja, said that the decision was reached at the board’s recent 63rd regular meeting.
The meeting was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.
Maiwada said that the initiative, also known as “De Minimis” threshold, aims to stimulate cross-border e-commerce, minimise clearance delays and further consolidate Nigeria’s position as a regional leader in trade facilitation.
He said that the move aligns with the best global practices, aimed at simplifying clearance processes for low-value consignments, enhance trade facilitation and provide clarity for e-commerce stakeholders and travelers.
The spokesperson explained that the “De Minimis” threshold is the value below which imported goods are exempted from payment of customs duties and related taxes established by the national legislation.
He said that non-compliance to the directive would include forfeiture, arrest and other sanctions stipulated in the NCS Act, 2023.
“After a comprehensive review of similar practices across continents, the board approved 300 U. S. dollars as Nigeria’s official De Minimis threshold.
“This exemption will apply to low-value imports, e-commerce consignments, and passenger baggage.
“The threshold, which is restricted to four importations per annum, aligns with Section 5(c and d), Section 158 subsections (5 and 6), other relevant provisions of the NCS Act, 2023 as well as international instruments.
“This include the World Trade Organisation (WTO) Trade Facilitation Agreement and the World Customs Organisation (WCO) Revised Kyoto Convention,“ he said.
He noted that under the new regulation, goods valued at 300 dollars or less would be exempted from import duties and taxes, provided they are not prohibited or restricted items.
