Happy easter 2022 to all our members and visitors! CORONAVIRUS safety tips from Admin! 1. Watch your hands with running water 2. Dont cough in your hands 3. Keep distance from people 4. Stay indoor if neccessary!! Stay safe !!! Dear Members,Do you know that naijacrux is fully programmed to serve you better, Do you know that you can share your favorite post on naijacrux with friends on twitter,facebook, googleplus,myspace and many more! To share post on naijacrux with friends and family on twitter, facebook,googleplus,myspace,and many more, scroll to the down page of the post, Click on the Social Icon You Want To Share On To Share.


Author Topic: Nigeria?s new auto policy drops import by 20%  (Read 1466 times)

0 Members and 1 Guest are viewing this topic.

Offline jchima14

  • Hero Member
  • *****
  • Posts: 1224
  • Karma: +0/-0
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: http://www.ereporter.com.ng/index.php/business-news/item/576-nigeria-s-new-auto-policy-drops-import-by-20


 

 

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

Started by mastercode

Replies: 0
Views: 1820
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: 1887
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: 1882
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: 1906
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: 1883
Last post July 21, 2015, 01:50:49 PM
by mastercode