Tariff On Imported Cars To Rise By 60% - Autos (4) - Nairaland
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New Tariff On Importation of Tokunbo Cars Postponed??? / Buy And Sell Imported Cars To AFRICA / New Age Limit For Imported Cars Into Nigeria (2) (3) (4)
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| Re: Tariff On Imported Cars To Rise By 60% by omoyankee3(m): 6:17pm On Nov 25, 2013 |
Duties and tariffs are usually imposed on imported goods so as to protect the local industry. There are no car production plants in Nigeria, at least none that i know of, hence no local industry to protect by imposing an exorbitant tariff. The tariff won't significantly increase import duties revenue because less cars will be imported, and less cars translates to less tariff to impose. Sometimes, when I hear about lawmakers passing some laws and rules, I wonder if they really sat down and thought deeply of the ramifications and consequences of the law they are passing. So myopic. *shaking head* |
| Re: Tariff On Imported Cars To Rise By 60% by LajaLaba: 6:17pm On Nov 25, 2013 |
Yeye  |
| Re: Tariff On Imported Cars To Rise By 60% by Eyop: 6:34pm On Nov 25, 2013 |
What i feel the government would have done was to increase the duty and levies for older vehicles while reduce duty on newer vehicles there by encouraging the purchase of newer vehicles. Also stop the importation of salvage title(accidented,flood,etc) vehicles while they work on 24-7 power supply and ensure that the roads are OK for motorist. No stable power supply,no good roads,SON isn't working in this country so how will the manufacturing industries work? |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 6:36pm On Nov 25, 2013 |
googlepikin: I like dis move. Now dis a strategy to make brands like toyota and hyundai and co to open up here by next year. but I'm afraid if Nigerians will start coupling cars, you might be driving and your tire will just fly off from your car. So with your own mouth you think it is a great move but still see the danger in rides being made in Nigeria . . . So which side are you on? |
| Re: Tariff On Imported Cars To Rise By 60% by mightycrown: 6:51pm On Nov 25, 2013 |
Nigeria leaders! why is it that you can never initiate any policy that will put smile on the poor masses faces? why? what are the outcome of many policies implemented so far? most notable fuel subsidy, going to two year now. in what way has it benefited the masses? this is not all about protecting the local industries but is about making sure that the poor continue to suffer and to unable to get basic necessities. if fg put necessary infrastructures in place to encourage the local industries and goods are there, people especial the poor will want to buy from here. but not by blocking the only means. anyway smugglers will increase sha. this is nigeria |
| Re: Tariff On Imported Cars To Rise By 60% by Ossycool: 7:20pm On Nov 25, 2013 |
djon78: And people will say Goodluck is clueless, this is an excellent move. When I returned to Nigeria I wept at the number of SUV on Nigerian roads, I factored in the colossal amount Nigeria loses to these cars, I suggested that govt should impose high tariff on them in some countries I have been in they impose up to 150 percent. So I say it is a very good move by GEJ and Okonjo Iweala. And this will encourage local production and job opportunities, once again, nice move. I believe u don't reside in Nigeria and u don't have adequate info about our country, no investors yet on ground, no stable source of power, and I don't think the political will for them to succeed is there, so many company have left Nigeria to nearby countries because of high cost of production, how many Nigerians can buy a car worth 2m comfortably not to talk of a brand new car in a country like Nigeria full of inadequacies in their policies and structures. God help us. |
| Re: Tariff On Imported Cars To Rise By 60% by Nuke: 7:26pm On Nov 25, 2013 |
Sincere 9gerian: This is a very wrong move from any point of view. Assumption: A Toyota Camry in America costs 10,000 dollars for Tokunbo and 18,000 dollars for brand new, I would expect that in Nigeria, the plants will also be selling the brand new at about 18,000 dollars equivalent in Naira. IF I have to buy any of these cars, I will still have to pay for shipping and duty, even at zero duty, there will be no point buying the brand new Camry from America since the landing cost will be more than buying it in Nigeria. So provided the cars are of same quality as what we have out there in developed countries, no one will be importing same. On the other hand even a tokunboh car will cost just as much as the brand new sold in Nigeria. Secondly, The plants have not even chosen a location to site their plants, no MOU with any companies, They have not even gotten lands or cleared the bushes. Your claims that banks will give out car loans is supposed to be another reason why many people will rather buy from Nigeria than import. You also claim it will generate jobs, that is true but that is provided that these companies decide to open plants in Nigeria. It is obvious that they are not ready for the stress here. Remember the licenses issued for refineries by the OBJ govt, those refineries have still not come to light In all, this is just more slavery and a way of forcing some substandard products on the people because if its same quality, no one except those that pay 10 times for BMW bulletproof cars will like to import their cars. Please tell your boss to have a rethink 1 Like |
| Re: Tariff On Imported Cars To Rise By 60% by stephenponti(m): 7:29pm On Nov 25, 2013 |
who knows when precisely this policy kicks off? January----December? |
| Re: Tariff On Imported Cars To Rise By 60% by Eyop: 7:30pm On Nov 25, 2013 |
stephenponti: who knows when precisely this policy kicks off? January----December?You are correct Fhemmy. It starts from 1st of March |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 7:30pm On Nov 25, 2013 |
stephenponti: who knows when precisely this policy kicks off? January----December? March 1st, i think |
| Re: Tariff On Imported Cars To Rise By 60% by ccaramel(f): 7:44pm On Nov 25, 2013 |
The policy kicks off in January. |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 7:45pm On Nov 25, 2013 |
ccaramel: The policy kicks off in January. ccaramel: The policy kicks off in January. I dont think so |
| Re: Tariff On Imported Cars To Rise By 60% by Eyop: 7:48pm On Nov 25, 2013 |
Fhemmmy: You are correct, 1st of March bro. However i doubt if it will last. |
| Re: Tariff On Imported Cars To Rise By 60% by delvinmaya(m): 7:52pm On Nov 25, 2013 |
reading all post so far everyone has their valid points, both for and against. i feel the best thing to do is dilligently research and find out palliative measures or if none, find out which companies are on ground to benefit, also understand how the policy affects the masses and how to counter it. For me, its good, but thats only if we monitor and ensure we dont suffer as a result. And to rally en-masse if it doesnt favor us |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 7:54pm On Nov 25, 2013 |
Eyop: Even if it never last, the already hungry Custom officer at the port will make sure the importers suffers . . . I just wonder how they could make such policy when we are yet to provide the basic things for such policy. |
| Re: Tariff On Imported Cars To Rise By 60% by ccaramel(f): 8:02pm On Nov 25, 2013 |
Fhemmmy: Bill of lading dated after January 10 will get slammed with new tariff. I have been shouting this since the memo came out on auto forum.
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| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 8:06pm On Nov 25, 2013 |
@ccaramel . . . With those conditions up there, but no matter what from March 1st is when the general policy will take full effect |
| Re: Tariff On Imported Cars To Rise By 60% by ccaramel(f): 8:07pm On Nov 25, 2013 |
Fhemmmy: @ccaramel . . . With those conditions up there, but no matter what from March 1st is when the general policy will take full effect Did you even read the memo? |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 8:09pm On Nov 25, 2013 |
ccaramel: Yes, I did - Though hard to read cos i have to bend my head the other way to read it, but it is all same as what i have seen online |
| Re: Tariff On Imported Cars To Rise By 60% by ccaramel(f): 8:11pm On Nov 25, 2013 |
Fhemmmy: So where did you see that is effective from March? Don't give wrong info and make people delay their BOL. Any BOL dated after JAN10 will be charged the new rate of 70% fees. |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 8:15pm On Nov 25, 2013 |
ccaramel: Madam, Google online and see more about it . . . If you read my statement, i said with those conditions you are good for January, but from March is when no matter what . . .It kicks in full time. |
| Re: Tariff On Imported Cars To Rise By 60% by sademola: 8:17pm On Nov 25, 2013 |
Flyboy Zee: Economically speaking, this is the best policy to have come out from any Nigerian Government since the invention of sliced bread. The problem is that our poverty-ridden minds and 'poor man' mentality will always make us say stuffs like 'it is not the right time', 'it is ill-timed', 'what are the palliatives FG is putting in place', etc. flyboy, we had alumaco, pan, folks etc before and we didn't bother about importing vehicles. My dear friend, how many of the innoson's vehicles are on the fleet of this policy makers now? Charity, I believe, begins from home! |
| Re: Tariff On Imported Cars To Rise By 60% by texazzpete(m): 8:26pm On Nov 25, 2013 |
Sincere 9gerian: The only consumer vehicle on innoson 's website is an SUV. This is likely not going to be in the same price range ad the Tokubo vehicles people want. |
| Re: Tariff On Imported Cars To Rise By 60% by ojimbo(m): 8:50pm On Nov 25, 2013 |
djon78: And people will say Goodluck is clueless, this is an excellent move. When I returned to Nigeria I wept at the number of SUV on Nigerian roads, I factored in the colossal amount Nigeria loses to these cars, I suggested that govt should impose high tariff on them in some countries I have been in they impose up to 150 percent. So I say it is a very good move by GEJ and Okonjo Iweala. And this will encourage local production and job opportunities, once again, nice move.which country did you came back from? What made you leave your country? |
| Re: Tariff On Imported Cars To Rise By 60% by FlyboyZee: 9:07pm On Nov 25, 2013 |
Aigbofa:Mr Dollar man, can you also compare the living costs in America and Nigeria? If you do, it might surprise you to know that they both earn similar wages especially if you relate it to what percentage is spent/saved from a monthly paycheck. So don't come hear praising the dollar and claiming that America is heaven on earth. Civil servants worldwide don't earn much in comparison with the prevailing local standards, but they are usually not badly off either. So take note. |
| Re: Tariff On Imported Cars To Rise By 60% by Wilife: 9:31pm On Nov 25, 2013 |
...Tried reading thru a couple of comments here.... Good write ups no doubt.... By way of background...I studied Economics at graduate level and also an accountant.... Lived in the States a couple of years and back in Naija.... When you look at some of the policies folks in govt throw around...u feel sad for this country....This is one of those nights for me.... Yet again, we've just made the day for the folks in Benin and Togo ports.... Tariffs have never been known to work in countries with our kind of deficiencies.... The economic model we are trying to put in place is dead on arrival.... If you studied the telco sector well, u will notice how privatisation of GSM licenses opened the market space... The simple blocks are ....fix your power sector...embark on massive infrastructural development that will discourage the need for cars on the road....fix the rails...introduce speed rail....establish lasting reforms at the ports....fix your porous borders...adopt and follow through a policy that govt and its agencies will patronise local manufacturers and before u know it...the intended objective will be met... Just sad to see very well educated folks in govt missing the points... U just wonder why everything has to be different in this country.... Very sad... 5 Likes |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 9:32pm On Nov 25, 2013 |
^^^  |
| Re: Tariff On Imported Cars To Rise By 60% by bfire(m): 9:46pm On Nov 25, 2013 |
Let see Mr. President, the ministers, the lawmakers and their family start driving Innoson, VW, Peugeot from Jan; 2014. If they should remain a leader, they must lead by example. Only then will i believe that they mean good for every Nigerian. @djon78: How many countries have you been to? Are they like Nigeria? I mean infrastructure wise What's the model of transportation for the leaders in any of the country? @sincere 9gerian: Your affinity to the government is beclouding your judgement. This type of policy will not create job. I've come to understand that automobile jobs in Nigeria context is more or less a reflection of current economics situation. When 9ja economy was good in the 60's and 70's the likes of PAN and VW, Michelin and Dunlop set up assembly plants in 9ja. Where are they now? what factor(s) determine their existence? We are not talking about manufacturing. It's assembly for goodness sake. Who takes the profit? Do you sincerely believe that any of the foremost car manufacturer in the world will operate under this current environment? The key to this question is the purchasing power of Nigerians. It is not encouraging such that NEW CARS (this is what you get when you assembly a car), no matter how small, will become affordable to even 10%. Businesses are set up to make profit and to create wealth. They are not charity. No business entity can afford to set up shop when the target market is not economically visible. |
| Re: Tariff On Imported Cars To Rise By 60% by Fhemmmy: 9:49pm On Nov 25, 2013 |
^^^ My Chairman, haba now . . . The bank will have to give loan to people to buy cars, I just laff at how we come up with policies |
| Re: Tariff On Imported Cars To Rise By 60% by olanshi: 9:50pm On Nov 25, 2013 |
WE DON'T WANT THAT CRAZY POLICY, IT MUST BE REVISED!!! I DON'T KNOW WHAT SOME PEOPLE USE THERE HEAD TO THINK OF IN THIS COUNTRY! |
| Re: Tariff On Imported Cars To Rise By 60% by bfire(m): 10:19pm On Nov 25, 2013 |
Having to deal with malaria or headache is not the problem. Knowing what, when and how to apply the remedy is. It's easier for someone with a back-ache to stand and carry a cow. He can't however stoop to pick a pin on the floor. Yea, government will become a bank to everyone. They even have a better criteria to approving loans. The almighty loan arranger. |
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