FROM Monday, a new car that was sold for N3 million before the Federal Government introduced the new automotive policy may now cost N5.1 million. The full implementation of the policy which begins today (July1) has put 70 per cent tariff on vehicles.

Under the new automotive scheme, the Federal Government in 2013 raised the duty and levy payable on imported new and used cars from 20 per cent to 70 per cent, pointing out that the initiative was aimed at encouraging local production of automobile.

But experts and various stakeholders have repeatedly cautioned the Federal Government against the danger of implementing the policy without first putting in place necessary infrastructure such as uninterrupted electricity supply and good road networks.

They said that without adequate facilities, the cost of production may push the cost of locally assembled cars beyond the reach of most Nigerians.

What do you think?

Another useless law aimed @ milking the masses. 70%!

I must admit, it seems @ the initiation of becoming a leader in this country one is injected with stupidity