Tariff On Imported Tokunbo Cars Raised - Car

Twenty-four hours after the new
automotive development plan was
approved by the Federal Executive
Council, the Federal Government on
Thursday said a new tariff on the
importation of cars would be
announced soon.
The move will make imported cars
more expensive thus, promoting the
purchase of locally manufactured
vehicles.
The Minister of Industry, Trade and
Investment, Mr. Olusegun Aganga,
confirmed the development during a
chat with journalists in Abuja.
Aganga said the old tariff had been
reviewed upwards, adding that the
new tariff had already been
approved by the Federal
Government.
This, he added, was part of
measures to develop the Nigerian
automotive industry.
“The importation of Tokunbo
vehicles will not be a major threat to
the automotive development plan.
The tariff for the importation of cars
has been reviewed upward and will
be announced soon,” he said.
Aganga also said the ministry had
commenced, with immediate effect,
the implementation of the
Automotive Industrial Policy
Development Plan.