The implementation of the nation’s new auto policy may have started yielding fruit, as importation of new vehicles into Nigeria dropped by 20 percent in the first six months of this year (2014) according to some auto makers.

The development, it was gathered, was on account of the raising of import duties on new vehicles from 20 percent to 35 percent.

Business Day gathered for instance, that with Nigeria as an auto market of 50,000 new vehicles a year, the implementation of the policy has reduced importation of new cars by 5,000 units.

Analysts said yesterday, that the country stands to gain from the conservation of foreign exchange if government implements the policy with transparency.

According to them, the expectation of Nigerians is that the figure should drop to the lowest minimum and if possible, we should rely completely on locally made automobiles....

Source: http://www..com.ng/index.php/business-news/item/576-nigeria-s-new-auto-policy-drops-import-by-20

Good news.

The govt is just wasting our money on this motor industry that will never grow, I heard the Innosun would begin sale of cars in June this year but I never see anyone for neither street or highways. A country that cannot run a telecommunication? When them mismanaged Nitel them turn am to Mtel, stil e still die na ni but other GSM networks are still in existence

Our major problem at hand is not production of cars, how man citizen of this name can afford a car of 1m naira? You think say Nigerian politician trust made in Nigerian products, even their toliet utilities is made in abroad. If not how many of these politician have you seen in made in Nigeria cars?

This aint prophecy but the Motor industry will not grow becuase thy are not facing our major problem at hand..unemployment, food, water, power and the mother of all, corruption

How do you make so much noise when you don't have sense. The auto industry creates jobs and also products used outside the auto industry. It will stimulate the use of materials from other local industries like steel, plastics ,leather,glass ,paints and foam. A local company (Kam industries in Ilorin ) is now producing steel sheets

econome:
The govt is just wasting our money on this motor industry that will never grow, I heard the Innosun would begin sale of cars in June this year but I never see anyone for neither street or highways. A country that cannot run a telecommunication? When them mismanaged Nitel them turn am to Mtel, stil e still die na ni but other GSM networks are still in existence

Our major problem at hand is not production of cars, how man citizen of this name can afford a car of 1m naira? You think say Nigerian politician trust made in Nigerian products, even their toliet utilities is made in abroad. If not how many of these politician have you seen in made in Nigeria cars?

This aint prophecy but the Motor industry will not grow becuase thy are not facing our major problem at hand..unemployment, food, water, power and the mother of all, corruption

obua:
How do you make so much noise when you don't have sense. The auto industry creates jobs and also products used outside the auto industry. It will stimulate the use of materials from other local industries like steel, plastics ,leather,glass ,paints and foam. A local company (Kam industries in Ilorin ) is now producing steel sheets

I think you suddenly escaped from Yaba-Left..

obua:
How do you make so much noise when you don't have sense. The auto industry creates jobs and also products used outside the auto industry. It will stimulate the use of materials from other local industries like steel, plastics ,leather,glass ,paints and foam. A local company (Kam industries in Ilorin ) is now producing steel sheets

obua is making a good point