Vehicle importers are set to breathe a sigh of relief – the Federal Government has shifted the implementation of the 35 per cent levy on vehicles till January 1.

The levy regime, a key component of the new automotive policy, would have begun on Tuesday.

Minister of Trade and Investment Dr. Olusegun Aganga briefed the Federal Executive Council (FEC) at its weekly meeting on the policy. He also explained it during his interaction with reporters at the State House.

Aganga’s aides would not confirm the extension of the levy collection when contacted last night. They said the minister planned to speak on the policy today.

But sources said the extension was as a result of intense lobby against it by various interest groups.

Government was also said to have considered the political implication of the policy which will increase car prices.

Besides, the Standards Organisation of Nigeria (SON) also reportedly advised against it at this time, because it had not been able to certify the made-in-Nigeria cars fit for use.

The Association of Nigerian Licensed Customs Agents (ANCLA) and the National Association of Government Approved Freight Forwarders (NAGAFF), it was gathered, directed their members to monitor the implementation of the project.

SON, it was learnt, had called the attention of the government to the failure of the assembly plants that promised to roll out the made-in-Nigeria vehicles to approach the agency for standardisation of their products.

The agency, it was learnt, insisted that any vehicle coming out of the assembly plants must meet the Nigerian standard before the policy could be implemented.

Read full Story
http://monitor9ja.com/2014/07/35-levy-imported-vehicles-responed-till-january-1-2015/