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Stakeholders push for local auto assemblies to check smuggling guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
The Federal Government may be losing half of its revenue from import duties on vehicles, as about 50 per cent of them come into the country, illegally. ....
Eromosele Abiodun writes that the reduction of duties on imported vehicles by the federal government has become a charade as officers of the Nigeria Customs Service now use various charges to extort importers and victimise clearing agents at the ports In November 2013, the federal government announced the introduction of a new automotive policy, which was geared towards discouraging the importation of wholly assembled automobiles and encouraging local manufacturing. Specifically, the policy allows local assembly plants to import completely-knocked-down vehicles at zero per cent duty, and semi-knocked-down vehicles at five per cent duty, while importers pay a 70 per cent duty on new and previously-owned vehicles. ....