I'm so happy. Very soon they will push the masses to the extreme that they can't take it no more then a Revolution would break out..

Its either that or we vote Buhari.

IyfeNamikaze:

oga be informed! IVM cars cost atleast 1m -1.5m, and some are also 2m. why don't you want our economy to grow? how do you think China became the largest economy in the world?

Which ivm cost 1m to 1.5m pls ham intrested? I hope its nt the picanto series?

Onegai:


Precisely. We cannot make cheap cars until we can source 50% or more of the raw goods needed for cars locally. Our Steel industry must be revived and we need Quality Control experts to set up testing facilities here. Also, let our govt put their money where their mouths are and USE MADE-IN-NIGERIA cars as their official vehicles, as vehicles of almost all parastatals.

The only Innoson vehicles I've seen in Lagos were buses travelling to/fro the East, yet the man has been producing for over 2 years. FG should have patronised him and used banks to offer excellent loans to Nigerians to buy Made-In-Naija.

. That's exactly the problem with our policy makers in Nigeria, lazy policy makers.
Let them create conducive environment for indigeneous companies by fixing the Steel Industry. At least companies will be able to source for components locally thus making their cars affordable and cheap. Buyers will patronise these cars once they can get it cheap and leave Tokunbo cars.

IF I MAY ASK MR ECONOMIST ,WHAT BRAND OF CAR DO YOU DRIVE ? INNOSON OR ANNAMCO AND DID YOU BUY BRAND NEW ? PEOPLE ARE TRYING TO MAKE ENDS MEET IN A COUNTRY WHERE NOTHING IS WORKING AND YOU ARE HERE SENTIMENTING THEIR RUBBISH POLICIES THAT WILL ONLY HARM YOU AND I FINANCIALLY. THE TARIFFS THEY HAVE BEEN MAKING ALL THESE YRS, WHAT HAVE THEY USED IT FOR ? PURCHASE OF PRIVATE JETS WHILE THE AVERAGE CITIZEN IS STILL BEING OWED USELESS MINIMUM WAGE FOR MONTHS. WELL AS FOR ME ,TOYOTA AND HONDA UNTIL THEY CAN START PROVIDING CAR MORTGAGES/PAYMENT PLANS AND THE LIKES THAT WILL BENEFIT AVERAGE PEOPLE LIKE YOU AND ME. LESS I FORGET,IF YOU BUY A GOOD TOKUNBO CAR WITH GOOD MAINTENANCE HISTORY, YOU WILL HAVE NO PROBLEMS WHATSOEVER WITH A USED CAR.

kennaustine:
^^^ 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

Everybody is shouting change, change. But we fail to see the change that the present government is effecting in different sectors of our economy.

One thing we fail to understand is that Nigeria cannot be fixed in a day, it's a gradual process to get to the promise land, and all I see is this government laying solid structures for economic growth. We want change but if we put sentiments aside we will see that the change is happening.

If there is a change in government and the new government doesn't continue with the good policies and plans of this present government, it would have failed.

Let's not forget that there's no gain without pain. Rome was not built in a day. There's no messiah that will do it overnight, not even buhari, cos he tried it before and ended up in a mess, which necessitated his removal.

Whynotthetruth:




Did you finish your secondary school or dropped out? What was your score in economics and mathematics? Don't you think that its better and more wise if you keep quiet or just book space and move on, when topics/issues you don't understand are being discussed

Ok.

STALLION Motors last weekend took the wraps off one of its locally assembled Hyundai models at an interactive session with local automobile media in Lagos. The Grand base model is priced under N2 million.
The Hyundai Grand i10 as it is named is an elegantly compact family sedan that comes in two  variants with 5-Speed manual and 4-Speed automatic transmission  and powered by 1.25 Kappa Dual VTVT engine respectively


.

IyfeNamikaze:

IVM
Nissan
pegeuot
these are the ones that I know , I'm sure some people here can contribute to that list

Hyundai
Kia
http://www.vanguardngr.com/2014/10/stallion-motors-unveils-made-nigeria-hyundai-grand/

eedris07:
:oNawaoo 4 dis our govt oo. D tukubo wey we get monie buy dey no wnt us 2 buy am again? Hmm

yes we go increase am. By 2016 we go remove fuel subsidy completely. Dis is d time to deal with poor. By d way y must u be poor.....FG

PStacks:
I'm so happy. Very soon they will push the masses to the extreme that they can't take it no more then a Revolution would break out..

Its either that or we vote Buhari.

Do you know the policies that were implemented under Buhari?
This is like heaven compared to them.

IVM fox made in Nigeria

kennaustine:
^^^ 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

Your analysis is like that of person that wants to start building a house from the ROOF! Its a good idea when all the foundation required to make it work is in place. And its suppose to be in stages after an alternative means has been created.who is going to buy the new car? With what resources? Where are the jobs? Comparing our economy with that of advance countries where loans are easy to obtain using only your citizenship as a collateral.What are the alternative? Responsible government that have such policies have good transport,rail system for people to fall back to.But this case is like leaving a month old baby in the colds of the night.This is not a people oriented policy.The manufacturers and capitalist are the winners here.I think we need a change .Lets try someone else at least.My future and my sons future is at stake.Nigeria stand up and vote out GEJ.

He must go if a white man is leaving he must shit
On the chair

Montaque:
I don't understand your language. Its not different from what obtains in south africa,and there own is that they don't import completed vehicles.

I mean the vehicles part is on CDK,thats the part are imported as well,what I mean is it'll be compelled here in nigeria as finished product not manufactured

GEJ, we're really going to praise and miss you when you leave office by 2015. I think I'll blame this on the opposition again. SMH for clueless president.

Tinubu:
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.....

You were on point in your first few paragraphs, then you change to political, then to name calling an expression of hatred!!! Then the whole post becomes highly illogical. You cannot eat your cake and have it!!

ShakurM:
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

This not a surprise, the announcement has been made since months ago. Nigerians are all aware of it.
But we have to weigh it between how many people are getting employed through the auto policy, how many people are already learning the new skills now from these companies, technology transfer that comes such, ofcourse with time and what type of cars we want. The other day the Ogun state gov was celebrating the massive land aquisition for establishment of these auto assmbly plants / fabrication yards. Sure so many are getting employed. Why do we always like finished goods....? Can't Nigeria start doing something, at least start small...?

This is exactly why Nigerians build refineries in other countries, creating jobs for them, here we are lammenting at every step govt takes; irrespective of what long term benefits it holds... untill we know what we really need we will keep complaining.

chidi01:
Everybody is shouting change, change. But we fail to see the change that the present government is effecting in different sectors of our economy.

One thing we fail to understand is that Nigeria cannot be fixed in a day, it's a gradual process to get to the promise land, and all I see is this government laying solid structures for economic growth. We want change but if we put sentiments aside we will see that the change is happening.

If there is a change in government and the new government doesn't continue with the good policies and plans of this present government, it would have failed.

Let's not forget that there's no gain without pain. Rome was not built in a day. There's no messiah that will do it overnight, not even buhari, cos he tried it before and ended up in a mess, which necessitated his removal.

Rather than cut the tree from the root in an environment where you know thay when it falls, it can cause alot of damage and hurt people, first of all start cutting it from the top, cut a few branches before proceeding to cutting the tree itself step by step in small bits.. im likening this automotive policy to the story of the tree.. the govt just cut this tree in two places..its going to cause more harm than good

Kia optima made in Nigeria.
http://www.kiamotorsnigeria.com/first-kia-rio-made-nigeria-1-98m/

This administration is actually BRAIN DEAD.

Let me break this down:

Discouraging imports is great for stimulating local economy: WHEN THE LOCAL PRODUCTION ACTUALLY EXISTS. For too many things in Nigeria, the consumption FAR EXCEEDS LOCAL PRODUCTION. The market actually depends on importation for SURVIVAL.

You can't buy what doesn't exist.

So what does this mean? People will continue to import because they HAVE to, even with the increased import taxes:

• They will just pay the increased cost--defeating the purported goal of reducing imports
• They will bribe someone--increased corruption
• They will smuggle it in from neighboring countries--giving more money to other countries

The last is the most likely outcome, as it is already happening. I'm sure car dealers in Benin Republic want to kiss our administration. Look at this picture of a car lot RIGHT NEXT to the border. Those cars weren't made in Benin.

eeeeeee:
Kia optima made in Nigeria.
http://www.kiamotorsnigeria.com/first-kia-rio-made-nigeria-1-98m/

Thanks for helping

From your link, it looks like the Kia Rio that is made in Nigeria will cost N1.98 million

kennaustine:
^^^ 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

Stop wondering! Buhari didnt attend common secondary school level certificate so it affecting his fellowers even graudates among them.

This is only to support the New Automative Policy… to encourage made in Nigeria, & assembled in Nigeria car-PLANT. Creating employment opportunities and bringing a national pride::::that feeling you get when you drive a car made in your own country/assembled in your country.

Why Nigerians no fit get sense support this beautiful policy na every thing ona go criticize. You want CHANGE, but there's no change anyway without SACRIFICE. This is change in the right direction.

The Federal Government introduced a tariff of 70% on used cars and buses effective July 1, 2014. Side by side with that, the government approved import duty waivers on imported Completely Knocked Down (CKD) components while Semi-Knocked Down (SKD) components will attract only 10% duty without any levy.
The policy was geared at stimulating local manufacturing and assembly of cars, attract investment in the sector, encourage technologically advanced manufacturing activities so affordable cars could be produced her and generation of employment.
At the moment, the Stallion Group has started the assembly of Nissan and Hyundai vehicles from their assembly plants while Peugeot Automobile Nigeria Plc also recently rolled off the first set of ‘made-in-Nigeria’ vehicles.
The policy has its critics as well like those who argue that such a policy being initiated in the midst of an undeveloped steel industry and comatose power was not well thought out. Another criticism is the absence of automotive components supply base and other cluster industries.
http://www.thescoopng.com/2014inreview-atm-charges-books-tariff-automotive-policy-nirp-top-10-govt-policies-2014/

oliverjiad:
I mean the vehicles part is on CDK,thats the part are imported as well,what I mean is it'll be compelled here in nigeria as finished product not manufactured

some parts are locally sourced. Upholstery,side mirror,glass,bolts nd nuts,headrest furs,rubber nd plastic parts etc. These areas are produced locally,and they are jobs to some people. The technicians that fix n assemble the vehicle are also employed.

MissMeiya:
This administration is actually BRAIN DEAD.

Let me break this down:

Discouraging imports is great for stimulating local economy: WHEN THE LOCAL PRODUCTION ACTUALLY EXISTS. For too many things in Nigeria, the consumption FAR EXCEEDS LOCAL PRODUCTION. The market actually depends on importation for SURVIVAL.

You can't buy what doesn't exist.

So what does this mean? People will continue to import because they HAVE to, even with the increased import taxes:

• They will just pay the increased cost--defeating the purported goal of reducing imports
• They will bribe someone--increased corruption
• They will smuggle it in from neighboring countries--giving more money to other countries

The last is the most likely outcome, as it is already happening. I'm sure car dealers in Cameroon want to kiss our administration.

Please go through the above posts and quit your cut and join economics.

Made in Nigeria cars abound.

What we should be talking about now is the next frontier which includes soft financing of car purchase which is already happening
as well as ability to lease and rent vehicles all these can only be possible with local manufacturing in place.

[quote author=mcgboye post=29358563]

This is only to support the New Automative Policy… to encourage made in Nigeria, & assembled in Nigeria car-PLANT. Creating employment opportunities and bringing a national pride::::that feeling you get when you drive a car made in your own country/assembled in your country.

Why Nigerians no fit get sense support this beautiful policy na every thing ona go criticize. You want CHANGE, but there's no change anyway without SACRIFICE. This is change in the right direction.

The Federal Government introduced a tariff of 70% on used cars and buses effective July 1, 2014. Side by side with that, the government approved import duty waivers on imported Completely Knocked Down (CKD) components while Semi-Knocked Down (SKD) components will attract only 10% duty without any levy.
The policy was geared at stimulating local manufacturing and assembly of cars, attract investment in the sector, encourage technologically advanced manufacturing activities so affordable cars could be produced her and generation of employment.
At the moment, the Stallion Group has started the assembly of Nissan and Hyundai vehicles from their assembly plants while Peugeot Automobile Nigeria Plc also recently rolled off the first set of ‘made-in-Nigeria’ vehicles.
The policy has its critics as well like those who argue that such a policy being initiated in the midst of an undeveloped steel industry and comatose power was not well thought out. Another criticism is the absence of automotive components supply base and other cluster industries.
http://www.thescoopng.com/2014inreview-atm-charges-books-tariff-automotive-policy-nirp-top-10-govt-policies-2014/

eaglechild:


Please go through the above posts and quit your cut and join economics.

Made in Nigeria cars abound.

What we should be talking about now is the next frontier which includes soft financing of car purchase which is already happening
as well as ability to lease and rent vehicles all these can only be possible with local manufacturing in place.

It appears you didn't read my post. Translate "abound" into numbers, dumbass. The market cannot support Nigerian consumption.

Cut and join economics? You're obviously too stúpid to comprehend what I wrote. If you owned a business in Nigeria, you would know exactly what I'm talking about. Fúcking ídiot.

redcliff:


Its still crazy.. i know it wasnt at once infact i enjoyed tge last part of jan 2014 when i escaped the first 35% increase.. what happened to slowly chipping it in, 15%, 15% 10% and 30% when you see that local "assemblers" are fully functional....in that way you spread that suffering over a long time period so that they dont complain too much..thats a govt that has the best interest of the people at heart

Now, much as chipping it in gradually would have been a nice step to take, the whole idea behind the bulk increase (like someone had pointed out earlier) is to make cost of acquiring a tukumbo car unattractive to the buyers as they'd consider it quite costly to purchase hence, improving the chances of people going for the home-mades (new cars of course). But if one still feels one can't settle for the home-mades, then the one is free to cough out the huge duty and go for his/her taste enriching the national treasury. The policy targets patronizing better our own local auto industries and shifting away from so much dependence on importation of automobiles. I believe a govt that has the interest of her people at heart is one that will deem it fit to stifle importation of certain commodities and simultaneously enhance her nation's domestic industry of such commodities thereby creating employments and increasing GDP than the one that will be lenient on importation thereby stifling the productivity of her own domestic industries that deal on such commodities. It may seem harsh on the short-run but the long-run reward is so phenomenal. The only issue here is, if the Nigerian factor that has often murdered so many promising policies like this can be dealt with to let the policy be implemented successfully and thrive.

Tibins:


This not a surprise, the announcement has been made since months ago. Nigerians are all aware of it.
But we have to weigh it between how many people are getting employed through the auto policy, how many people are already learning the new skills now from these companies, technology transfer that comes such, ofcourse with time and what type of cars we want. The other day the Ogun state gov was celebrating the massive land aquisition for establishment of these auto assmbly plants / fabrication yards. Sure so many are getting employed. Why do we always like finished goods....? Can't Nigeria start doing something, at least start small...?

This is exactly why Nigerians build refineries in other countries, creating jobs for them, here we are lammenting at every step govt takes; irrespective of what long term benefits it holds... untill we know what we really need we will keep complaining.

Oh. duly noted sir.

ajibsca:
IF I MAY ASK MR ECONOMIST ,WHAT BRAND OF CAR DO YOU DRIVE ? INNOSON OR ANNAMCO AND DID YOU BUY BRAND NEW ? PEOPLE ARE TRYING TO MAKE ENDS MEET IN A COUNTRY WHERE NOTHING IS WORKING AND YOU ARE HERE SENTIMENTING THEIR RUBBISH POLICIES THAT WILL ONLY HARM YOU AND I FINANCIALLY. THE TARIFFS THEY HAVE BEEN MAKING ALL THESE YRS, WHAT HAVE THEY USED IT FOR ? PURCHASE OF PRIVATE JETS WHILE THE AVERAGE CITIZEN IS STILL BEING OWED USELESS MINIMUM WAGE FOR MONTHS. WELL AS FOR ME ,TOYOTA AND HONDA UNTIL THEY CAN START PROVIDING CAR MORTGAGES/PAYMENT PLANS AND THE LIKES THAT WILL BENEFIT AVERAGE PEOPLE LIKE YOU AND ME. LESS I FORGET,IF YOU BUY A GOOD TOKUNBO CAR WITH GOOD MAINTENANCE HISTORY, YOU WILL HAVE NO PROBLEMS WHATSOEVER WITH A USED CAR.

Many people perish because they lack knowledge.

Information is power.

Explore your environment.

http://www.kiamotorsnigeria.com/kia-partners-diamond-bank-auto-loan-scheme-emi-low-n37000/

http://www.kiamotorsnigeria.com/kia-motors-nigeria-patrners-fcmb-auto-loan-finance-scheme/

The Nigerian government is always putting the cart before the horse. Stimulate local PRODUCTION first, until it is able to meet local demand, before you cut off imports.

Ease of doing business in Nigeria should be a priority, to encourage manufacturers: security, infrastructure (roads, power, water), oversight on dealings with government to make it faster, less expensive, and less corrupt.

Speaking from experience, if doing business in Nigeria was less like being a cowboy in the Wild Wild West, increasing production to meet demand would not be a problem, and Nigerians would happily patronize local products, as they would naturally be cheaper.

Bless! Happy nu year in advance

darediamond:
You will sure buy car but not the Debris in the name of Tokunbo.
You shall buy Innosons!!!

Bro Nigeria need to Ban totally. The importation of any product we are alredy producing locally for us to grow.
We need to make money out of Brain not Barns nor Barrels.
Do you think Millionaires in Nigeria Music industries would have been born if MTN, Glo, Coca-Cola and all other Big Companies in Nigeria are using American or foreign celibrities as there Ambassadors etc.?
Great Achievent Attracts Sometimes Tough Decissions and That Equates S A C R I F I C E!!
Dare Diamond said so!!!!!

Increase o or no increase im gonna add more