THE ban on the importation of vehicles older than 10 years has been lifted.

President Goodluck Jonathan has approved the extension of the age limit of used vehicles that can be imported from 10 years to 15 years.

Also removed from the import prohibition list are toothpicks, furniture, textile fabrics, lace, embroidered fabrics and made up garments.

The directive is contained in November a memo signed by the Minister of Finance, Mr. Olusegun Aganga .

Aganga said any vehicle that is manufactured 15 years ago is now free to enter the nation’s sea port for Customs clearance.

The memo reads: “This is to confirm the Mr President has granted approval for the underlisted products to be removed from the import prohibition list

The products are cassava, toothpicks, furniture, textile fabrics and articles thereof (African prints- (printed fabricks), lace and embroidered fabrics and made up garments.

"Furthermore, Mr President has approved an import duty rate of 10 per cent plus 10 per cent levy on Health and Energy drinks, such as Power Horse, Red Ginseng, which had been excluded from import prohibition and the extension of the age of used motor vehicles to be imported into the country from 10 to 15 years from the year of manufacture."

http://thenationonlineng.net/web3/news/20369.html

Its a good short term move.

Our ports lose a lot of revenue to Benin Republic as most of them items are smuggled in from there.

On the long run, especially when our local industries pick up again, we may have to place the embargo or increase tarrif on some of the finished goods that will compete unfairly against our locally produced items

Fantastic. ,  . . . let's see an increase traffic congestion, environmental pollution, further dilapidation of already dilapidated roads, and ultimately auto accidents.

what the government gets in revenue, {which will eventually be squandered}, the Nigerian people will pay for dearly!

Toothpick follow dey for import. Hope the foreign toothpick will come with user's manual.