Exactly six days ago, we made a post on how the Nigerian Customs Service (NCS) are working towards the reduction of the current vehicle import duty from 70% to 45%.

The Comptroller-General of Customs, Col Hameed Ali (retd.) has urged the federal government to reduce the 35% levy on imported vehicles , saying the move is necessary to check the rising cases of smuggled vehicles into the country. You can read all through the link here.

An automobile expert thinks otherwise; he proposes that reducing the import duty of these used cars can be dangerous to the economy.

The Vice-President, Business Development, Dana Motors, Mr Olu Tikolo, on Saturday said that the recent call for the reduction of import duties on used cars portends danger to the 2013 Nigeria Auto Policy.

Mr Olu Tikolo made the call at a media parley at his office, Akin Adesola, Victoria Island, on the partnership between Cars45 and Dana Motors.

Tikolo, on the heels of the recent call made by some stakeholders demanding a reduction on the tariff for imported vehicle by 15 per cent said such reduction could derail the existing auto policy. Saying it is anathema to the desired economic prosperity of the country.

“We must understand the prospect of the 2013 Auto Policy by the previous government which is aimed at encouraging local manufacturing of cars in Nigeria.

“The call for the reduction in the tariff for the importation of used cars portends great danger to the economy and also for investors’ confidence in our economy.

“Only the manufacturing sector can contribute effectively to the Gross Domestic Product (GDP) of the country which cars assembly and manufacturing can contribute up to 7 per cent.

“In other advanced countries, car manufacturing contributes up to 12 per cent of their economy, examples are South Africa and Brazil,’’ he said.


https://autojosh.com/reduction-import-duty-cars-danger-economy/

una papa.... abeg mak dem reduce am mak i knw weda i go cop this benz wey dy hungry me

Cars

Here we go again. No need asking about, who maked such policies. The best I can ask, is the reason for such, but unfortunately, this administration is marred with keeping silence on salient matters.

Who made such a stupid policy?

Since they made it? How has it affected Nigeria’s adoption of locally made vehicles?

How can one buy a 1m car and pay 700k to govt?

Which Nigerian manufacturer sells brand new car for less than 5m?

Again. Who made such stupid policy need to be shot

I wish and hope!

True... although it has left us with old generation cars.

Experts or local car manufacturers

By reducing the import duty, who will benefit more? The masses or car manufacturers?

Yet all blames go to FG

Lubbish
What we have here are assembling companies. Besides, how many average Nigerians can afford brand new cars?
We should focus on Agric, mining, tourism, etc until such a time when it will be truly beneficial to protect the car manufacturers. But for now, 35% tariff is still too high.

People want affordable cars.

has he forgotten the impact in this reduction in import duties on the revenue?..he should consider the fact that custom revenue will shoot upward

he should be concerned about there will be sudden increase in umber of cars on congested Lagos roads,which will definitely make Lagos navigation more stressful.

Pls Pls Pls. When are they reducing it.

I am eagerly anticipating.

Dana motors is only trying to protect its business interest!

How many nigerians dey use locally made cars? And how much are they?

I totally disagree with the federal government on this one if this news is true. By such action, they would have simply killed Innoson and other car manufacturers business in Nigeria.

Companies like cars45 will be in hot soup considering the fact that people will go for more tobunko cars against Nigerian used cars. This might also lead to decrease in price of new cars and profit shrink for automobile assemblage companies in Nigeria

contigiency:
I totally disagree with the federal government on this one if this news is true. By such action, they would have simply killed Innoson and other car manufacturers business in Nigeria.

compare the revenue increase that will be made when this reduced occurs to the revenue of innoson ventures

contigiency:
I totally disagree with the federal government on this one if this news is true. By such action, they would have simply killed Innoson and other car manufacturers business in Nigeria.

How many citizens buy new cars.apart from gov't ministries and our thief politicians.

It is not killing any policy.people still buying new cars will still be buying new cars.

Sure, because it will encourage more buyers and it will definitely tell on the economy.

Everything about this country should be about the common man. Since 35 percent doesn't change anything for the common man neither does it affect the economy positively which the common man had benefitted from hence its high time its reduced.

8GB Atm card flash drive for #1000 only. Check link
https://www.nairaland.com/4972442/clearance-sales-
quality-8gb-atm

www.nairaland.com/attachments/8494994_img20190114095147492_jpeg5d289080ef5a1bc4069bb2bc1f59e09b


https://www.nairaland.com/4857533/carguideng-toyota-siennas/


Verify that appropriate duty was paid for your vehicle:

https://www.nairaland.com/4942722/free-limited-offer-verify-custom

Imagine buying & shipping a car at 1.1m and then pay a whole 6-700k as duty for government. Same government that want people to import vehicle below years! Products under DANA motors should be avoided

Reduce am abeg. Even Ndigbo no dey buy Innoson. Na other Nigerians go dey patronize sub-standard products? Abegi

timilehing:
Imagine buying & shipping a car at 1.1m and then pay a whole 6-700k as duty for government. Same government that want people to import vehicle below years! Products under DANA motors should be avoided

which car did you buy for 1.1m and the duty was 6-700k?

Toosure70:
Sure, because it will encourage more buyers and it will definitely tell on the economy.

what is this one saying?

GR8ST:


Here we go again. No need asking about, who maked such policies. The best I can ask, is the reason for such, but unfortunately, this administration is marred with keeping silence on salient matters.

So you mean import duties should be high? When importers have all been lamenting

contigiency:
I totally disagree with the federal government on this one if this news is true. By such action, they would have simply killed Innoson and other car manufacturers business in Nigeria.

wrong target, even with high duty innoson still costs more than the tokunbo, and nobody really buys them. the people you should worry for are Dana and Coscharis and the rest

chido20:
una papa.... abeg mak dem reduce am mak i knw weda i go cop this benz wey dy hungry me

I Boy no go steal people pant ooo, as e dey hungry u so..

AutoJoshNG:


Exactly six days ago, we made a post on how the Nigerian Customs Service (NCS) are working towards the reduction of the current vehicle import duty from 70% to 45%.

The Comptroller-General of Customs, Col Hameed Ali (retd.) has urged the federal government to reduce the 35% levy on imported vehicles , saying the move is necessary to check the rising cases of smuggled vehicles into the country. You can read all through the link here.

An automobile expert thinks otherwise; he proposes that reducing the import duty of these used cars can be dangerous to the economy.

The Vice-President, Business Development, Dana Motors, Mr Olu Tikolo, on Saturday said that the recent call for the reduction of import duties on used cars portends danger to the 2013 Nigeria Auto Policy.

Mr Olu Tikolo made the call at a media parley at his office, Akin Adesola, Victoria Island, on the partnership between Cars45 and Dana Motors.

Tikolo, on the heels of the recent call made by some stakeholders demanding a reduction on the tariff for imported vehicle by 15 per cent said such reduction could derail the existing auto policy. Saying it is anathema to the desired economic prosperity of the country.

“We must understand the prospect of the 2013 Auto Policy by the previous government which is aimed at encouraging local manufacturing of cars in Nigeria.

“The call for the reduction in the tariff for the importation of used cars portends great danger to the economy and also for investors’ confidence in our economy.

“Only the manufacturing sector can contribute effectively to the Gross Domestic Product (GDP) of the country which cars assembly and manufacturing can contribute up to 7 per cent.

“In other advanced countries, car manufacturing contributes up to 12 per cent of their economy, examples are South Africa and Brazil,’’ he said.


https://autojosh.com/reduction-import-duty-cars-danger-economy/

The Dana spokes person should go and sit down. They convinced the government to raise import duty on used cars so that they can be encouraged to manufacture vehicles in Nigeria.

They dont manufacture NOTHING as far as I know. Because if they did, the Kia cerato bought for 3.1million in 2011 cannot be costing more than double that price today!!! Common picanto sef the cost of about 1.8 million in 2011 is now beyond reach! EXPLOITATION OF NIGERIANS!

The people are afraid of competition... see dia face. Do they know how many direct and indirect employment a reduced tariff would create? Do you know our car sellers would enjoy increased patronage because the most basic of cars could then become affordable to more and more citizens making for a boom in business? Abeg customs carry on with the reduction jare!