Ban on Tokunbo Cars: Stakeholder Warns on Economic Consequences

Against the backdrop of Federal Government plan to embargo importation of fairly used automobiles, a stakeholder has warned the country could lose over N300 billion annually from duties paid on imported used vehicles.
Coordinator, Save Nigeria Freight Forwarders, Importers and Exporters Coalition (SNIFFIEC), Chief Osita Chukwu Patrick, who disclosed this advised the Federal Government to rethink its plans to ban the importation of second hand vehicles in the near future as it would hurt Nigerians and the economy in general, especially as there are no alternatives available now.

In an exclusive chat with Daily Sun on Thursday in Apapa, Lagos, Patrick said the policy should have been to have an age ceiling for imported vehicles to check the influx of rickety ones.

“USA, UK and other developed nations still import used vehicles as we speak. These are nations that have sophisticated assembly plants and even export vehicles to other nations. But they still import some used vehicles that some of its citizens desire because all fingers are not equal. So if these countries can still import used vehicles, why is Nigeria tinkering with the idea of banning the importation of used vehicles in the near future. We don’t have enough at all. The government can only help by checking sub-standard vehicles by putting an age ceiling to it,” he said.

Culled from THE SUN


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By: SAMOD BIOBAKU