The Federal Government is set to increase import duty on second-hand cars by another 35% from Thursday January 1, 2015 in fulfillment of its so-called National Automotive Policy. This increase is the second phase after it increased by 35% in February 2014. This now brings the tariff to 70% in a little under one year for poor Nigerians who cannot afford to buy brand new cars

http://www.punchng.com/news/tokunbo-cars-to-cost-more-from-january-1/

http://nairametrics.com/new-year-gift-from-this-govt-import-duty-on-tokunbo-cars-to-increase-by-70-jan-1st/?utm_source=&utm_medium=twitter

Basically, import duty on tokunbo cars will double. The direct result is a significant increase in the prices of cars. I hope the gov't doesn't go ahead with this new duty regime.

mcgboye:

The Federal Government is set to increase import duty on second-hand cars by another 35% from Thursday January 1,2015 in fulfillment of its so-called National Automotive Policy. This increase is the second phase after it increased by 35% in February 2014. This now brings to tariff to 70% in a little under one year for poor Nigerians who cannot afford to buy brand new cars.


Read more on http://nairametrics.com/new-year-gift-from-this-govt-import-duty-on-tokunbo-cars-to-increase-by-70-jan-1st/?utm_source=&utm_medium=twitter

Basically, import duty on tokunbo cars will double. The direct result is a significant increase in the prices of cars. I hope the gov't doesn't go ahead with this new duty regime.

I hope so too

STC i'm on point.

we no fit afford new, even the tokunbo they wan.............

They don't care about us

1st of January 2012 there was increase in the price of petroleum.
1st of January 2015 an increase in the taxation on imported cars.

1st of January 2015 there will be ban on okada.

wetin them want make poor man take waka. no akada, no petrol, no car.....


the country has failed indeed.

hmm

Jona! Why now...Entering a new year, u must always give us surprises
So I no go buy car this 2015 agn abii
Jona! God knows ur Otueke home address oo

:oNawaoo 4 dis our govt oo. D tukubo wey we get monie buy dey no wnt us 2 buy am again? Hmm

No problems.

Nigerian Engineers, it's over to you guys. E be like say our time to shop don reach o!

FTC lo mata

Discouraging importation is no doubt, the best way to attain economic development


Less importation= more demand for local commodities = encouraging local enterpreneurship= more employment opportunities.


However,

Inasmuch as supporting local industries is praiseworthy, quality control shouldn't be taken lightly.... The Standard Organization of Nigeria, and other quality standard regulatory agencies should become less of a bureaucratic rubber-stamp, and rise up to their responsibilities of ensuring public safety, and commensurate value for money spent

But, with this Otueke fellow


I just sense that the sole purpose of this increase in duties, is to add more fuel to his looting jamboree..... We are yet to recover from the fuel subsidy removal scam, missing billions, etc, and he deems it fit to still assault the Nigerian public again.....

hmm

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Apparently, it seems oga jona cant do anytin ryt!!! . . .tho' dis is to promote home made cars anyways. . .buh, does increasing everything early in the year helps the ordinary man!?
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Abegi. .all we need na change o jaare!! SAI BUHARI all d way!

WO run de

Today is my birthday

Nairalanders celebrate me by wishing me a happy birthday


This comments make it the 2000th comment on Nairaland


Oya ladies and gent,I ll be waiting for una wishes


Cheers

#babyoftheyear

Government of GEJ or GMB?

God punish GEJ more money for the rich no wonder dem dey donate money give u, ...GMB forever

only you bann bike only u want to make cars expensive so the poor cant buy, smh

Another reason to vote out the clueless one

how does that give me give new year gift.

I will never buy a tokubo car again in my life in jesua name

Why now

who see my babe?

GEJ surprising Nigerians every new year.

He increased the price of fuel by an unprecedented margin ever...the pple he represents occupied the street, and they deceived us the money will be used for infracstructural development. After 6 years. Where is the development? Are the hospitals better or the workers are striking continuously? Are the schools better or the lecturers in all institutions are striking? Why has lagos-Ibadan not been completed in 6 years? Why are the rates of trains dt he finally did in lieu of election so expensive? My teacher told me trains are the cheapest source of transportation!

He has increased the price of car importation to 70%. Means if you buy a car of 1m, you pay extra 700,000 thousand. Why? What is the hope for the ordinary Nigerian huzzling to buy a used car. This locally produced cars...are they affordable - No.This also has a multiplying effect on the economy...cos all cars become expensive. The local industry you claim you want to encourage...are they ready to serve us? Why can't you buy the local cars and use them in your fleet of cars. Leadership by example!

Also in his time. because of the govt. cannot manage the economy, he has increased the dollar benchmark, and once again broke the record. How did Sanusi control it. What about your guy there. Is he doing the right thing? Dollar increase has led to virtually everything becoming expensive. A poor man cannot shop online again. Our reserves are empty. Where is the money? What has it been used for?


The why's are plenty...but the last is why should I vote for you when all your policies are killing me the ordinary citizen on the street. Don't you think I will commit sucide if you stay till 2019?








As for me and my family.
#GMB2015
#CHANGE




Mr. Progressive

And some nit-wits will come here and shout GEJ till 2019 with this type of anti-people policy.One thing that amazes me is why Jonathan is so heartless to the masses who gave him their mandate.Jan 2012 was subsidy removal which eventually claimed lives of innocent citizens and Nigerians are still feeling the pains till now.Now he wants to stop Nigerians from affording cheap cars. God,my humble prayer is that you change this govt like you changed the govt of Saul and replaced it with that of David.Nigeria and Nigerians cannot survive another 4years of insensitive governance under GEJ.

This is a good policy but for a govt as corrupt and incompetent as this, its a disaster waiting to unfold. It just remains some month, and we will be free from the shoeless man.

^^^ Whats really wrong with y'all APC propagandist? The increase in tariffs for imported automobile is to encourage local automobile manufacturers. Common SS2 Economics student will tell you that one way of encouraging local production is increasing import tariffs. That's called Import Substitution Strategy. Aren't you ashamed that Nigeria has become a dumping ground for every kind of crap produced in other climes? We have Innoson, PAN, ANNAMCO, VON, Nissan and other automobile manufacturers in Nigeria and we know that government is trying to revitalize them so as to boosts our economy. Yet you criticize this one very good move government makes to see to its realization. Many of these imported cars have been used for above five years and then they're moved to Nigeria for dumping, after which when you buy, you'll use for no more than three years and the money u would have spent on repairs and maintenance may have exceeded the original cost. Some brand new Innoson cars go for 1.5m and they're trying to beat it down to 1m. So which is better ; buying a brand new car for 1.5m and enjoying it for 3 to 4 years without excessive repair cost or buying a tokie car for 800thousand and spending over 500thousand on repairs in 3 years. A relation of mine has spent about 300th on repairs on a tokie car he bought for about 800th and the car IS STILL HAVING ISSUES. Wont it have been better to just buy a brand new made-in-Nigeria car and save yourself some unecessary stress. Why are we so used to cheap craps and worthless articles? Is that what APC wants for us? SMH. Which way Nigeria? #SeeBeyondPropaganda

let me read

It can only get better. The government is trying to discourage importation of cars so we could patronize locally made cars or better till, buy new cars.
Cheers OP
Wishing all Niaralanders a peaceful year ahead in 2015