President Goodluck Jonathan and his "FRIENDS" are obviously at it again. As many of you know starting Jan 10th 2014 duty and tariffs on "tokunbo" cars has been increased from 20% to 70%. Their argument and rationale for passing and implementing this law is to encourage foreign car manufacturers (toyota/nissan/honda/VW etc..) to invest in car manufacturing plants in Nigeria as a result creating more jobs for nigerians.
This law is so flawed in principle and implementation in many ways I don't even know where to start. For starters what foreign manufacturing company is going to agree to have a plant in a country with no stable electricity? Will the President and his cohorts answer that simple question. Or better yet, do they plan on running a car manufacturing plant with 24 hr generators? It simply makes no sense right from inception.
Even if they (Toyota, honda, hyundai, mazda, lexus,volswagen etc...) agreed to do that a law like this should be implemented in phases. This is not a project that is done within a year. It'll take somewhere between 3 to 5 years to adequately get a project like this functional. So while trying to create jobs in maybe 5 years they'll dry up tens of thousands of jobs, maybe hundreds of thousands when you consider dealers, their employees, clearing agents and their employees. What alternatives do you have for people who have made these trades their livelihoods for numerous years? Again a system that eats at its own core.
Lastly do you EVER see president Obama in a Range Rover or a BMW? No because in order to encourage local manufacturers ALL government official vehicles; from the white house to the loving county, Texas are american brands; Cadillac, Ford, chevrolet etc.. So good job President Jonathan you have once again shown the Nigerian people you are absolutely clueless and have no pulse for the people who gave you their vote to be president. But then again did they really give you their VOTE?

bOth know it should be impossible for him to put a foolish law like that and the subsidy removal into place without going through the house. Its becoming a yearly affair for Aso Rock to pull a no no. They called late Yar Adua go slow but this one really earned his nickname.

There is a process and incentive in place to encourage auto assembly 0% for CKD 5% for partial CKD and generous waivers for all these dealers yet it failed. At that rate PAN and others should be able to put a competitive car on the market so if the low rate failed on one side of the auto industry and 35% on the other side still succeed on used side going to 70% is an attempt to kill that side of the industry without any indication in the next 4 yrs that the assembly side will even be out of coma apart from PAN none of the big dealers have a site in place for assembly but its okay to go ahead with this murder in a week.

RETARDS

Front Page Tinz

Op what's/where's your source?

smartchoice: Op what's/where's your source?

no be today, why are u asking for source now
Madam economy manager has sent the memo since november

Here is the official memo

This should be taken to the Front Page OH!

Frontpage please.

@OP, you could have done without personally insulting the president.

I think the move to Increase the import duty has been suspended...

Area-Fada:
Frontpage please.

@OP, you could have done without personally insulting the president.

I don't think I insulted the President personally in anyway. I merely stated a fact and asked a question that I'm sure MOST nigerians have.

olanshi: I think the move to Increase the import duty has been suspended...

Where did you get that info from?