The policy which have seen the increase on the import duty paid on the importation of second hand cars, also called tokunbo cars rise from from 35% to 70% in a bid to reduce and discourage importation of this cars to allow the growth for indigineous investment of car manufacturers in Nigeria.

The automotive industry development plan is also meant to inturn lead to massive job creation and provision of employment to about 700,000 people.

As indicated in this source:
www.nigeriatradehub.gov.ng/News/tabid/98/entryid/183/will-the-new-automotive-policy-give-us-affordable-made-in-nigeria-car.aspx

Unfortunately, after the introduction of the policy only a minute few companies have shown interest and some are yet to start the production in Nigeria.

Conversely, the policy instead of bringing about revenue to the government in import duty fees and other surcharges and levy,have seen neighbouring countries benefits from our Nigerian port substituted for other neighbouring African countries, who have since used the neighbouring countries as their port of destination for second hand cars importation.

As indicated from this source:
www.leadership.ng/news/417740/nigerias-neighbours-profiting-from-its-new-automotive-policy

Indicating that the number of imported cars has reduced from 27,000 units imported(January 2014) to 8,000(January 2015).

Should the new automotive policy be discontinued by the new regime of Muhammadu Buhari?

Yes, discontinue it.
It has caused bad market for used car importers.

If it was a serious president that introduced that policy, you would've seen how much vigour would be put in to make it achieve its objectives. If it's Jonathan, just go and sleep, its as good as dead

cjrane:
Yes, discontinue it.
It has caused bad market for used car importers.

but if we consider the long-term benefit,that will lead to competiveness in the Nigerian market,leading to affordable car price and environmental friendly cars. Further, the Job creation will reduce unemployment and other indirect jobs it will create.

What is the advantage of locally produced cars if the cost of purchase is in millions? It is well known that only a minute percentage of the population is wealthy. Majority are poor and this wealthy once will rather purchased new cars produced outside the country than buy locally produced cars. There, the revenue generated will be small and the investors will be discourage.

What the government can do should be to encourage the local car manufacturers to produce cars that will be cheap, so that Nigerians will be encouraged to buy instead. So instead of looking for second hand tokunbo cars, they will then patronize the locally produced cars.

I smh for this country.
Nigeria is the classic case of an environment where free-loaders are governing industrialists and entrepreneurs.
Laziness-induced socialists dictating policies for 'genetically-engineered 'capitalists.
A crying shame.

rottennaija:
What is the advantage of locally produced cars if the cost of purchase is in millions? It is well known that only a minute percentage of the population is wealthy. Majority are poor and this wealthy once will rather purchased new cars produced outside the country than buy locally produced cars. There, the revenue generated will be small and the investors will be discourage.

What the government can do should be to encourage the local car manufacturers to produce cars that will be cheap, so that Nigerians will be encouraged to buy instead. So instead of looking for second hand tokunbo cars, they will then patronize the locally produced cars.

you should be considering the long term effects, It far outweighs the short-term losses

Medley:


you should be considering the long term effects, It far outweighs the short-term losses

What is the long term effect if I may ask?

rottennaija:


What is the long term effect if I may ask?

short term: the price of the manufactured cars may be high due to the number of car manufacturers that have started their operations in Nigeria.

Long term: other car manufacturers that knows that Nigerians prefer going with their private car,even when the journey is just a few blocks.
2. That the Nigerian auto market is a profitable investment.
3. The only hinderance being the auto policy will cause big car manufacturing companies to locate their manufacturing industry here in Nigeria and build car for the Nigerian economy and environment.

We are talking of Job for our farmers(timber and forestry),graduate in different course field(electrical,electronic,mechanical, etc.), CSR, foreign exchange and more for indirect job creation.