Author Topic: Nigeria?s new auto policy drops import by 20%  (Read 200 times)

0 Members and 1 Guest are viewing this topic.

Offline jchima14

  • Hero Member
  • *****
  • Posts: 1224
    • View Profile
Nigeria?s new auto policy drops import by 20%
« on: October 17, 2014, 08:47:49 AM »
Loading...
Quote
The implementation of the nation?s new auto policy may have started yielding fruit, as importation of new vehicles into Nigeria dropped by 20 percent in the first six months of this year (2014) according to some auto makers.

The development, it was gathered, was on  account of the raising of import duties on new vehicles from 20 percent to 35 percent.

Business Day gathered for instance,  that with Nigeria as an auto market of 50,000 new vehicles a year, the implementation of the policy has reduced importation of new cars by 5,000 units.

Analysts said yesterday, that the country stands to gain from the conservation of foreign exchange if government implements the policy with transparency.

According to them, the expectation of Nigerians is that the figure should drop to the lowest minimum and if possible, we should rely completely on locally made automobiles....
Source: You are not allowed to view links. Register or Login



Loading...
 

Nigeria Single Treasury Acct TSA boost revenue collections as FAAC shares N511bn

Started by mastercode

Replies: 0
Views: 275
Last post August 30, 2015, 04:07:58 PM
by mastercode
Nigeria-South African country?s media confirms legitimacy $9.3M of arms deal

Started by mastercode

Replies: 0
Views: 267
Last post October 07, 2014, 11:34:33 AM
by mastercode
Tony Elumelu launches Empowerment Fund to revitalize Nigeria distressed areas

Started by admin

Replies: 0
Views: 381
Last post October 17, 2014, 01:11:34 PM
by admin
Fuel scarcity - okonjo iweala accused Oil marketers of holding Nigeria to ransom

Started by mastercode

Replies: 0
Views: 512
Last post May 04, 2015, 09:43:56 AM
by mastercode
IRAN - US Deal - Nigeria May Lose N333 billion in crude oil revenue By Year End

Started by mastercode

Replies: 0
Views: 215
Last post July 21, 2015, 01:50:49 PM
by mastercode