Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,553 members, 7,955,057 topics. Date: Saturday, 21 September 2024 at 03:39 PM |
Nairaland Forum / Nairaland / General / Car Talk / Fg’s New Automotive Policy To Open Up More Opportunities In Import Business (15794 Views)
Evil Automotive Policy Implementation To Commence July 1st / Auto Policy: Stallion Motors Unveils Made-in- Nigeria Hyundai Grand / Becoming A Seasoned Auto Mechanic And Automotive Engineer In Nigeria (2) (3) (4)
Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by atlwireles: 10:34pm On Oct 28, 2014 |
The Federal Government’s new automotive policy is expected to cause a paradigm shift from the trend of importing fully built new vehicles to the importation of newly built automobile components (spare parts) for the utilisation of the assembly plants that are springing up in the country, analysts have said. This development, they said, is likely going to shape the growth and content of Nigeria’s containerised imports in 2015 as the automobile spare parts are expected to come into the nation’s seaport packed in container boxes. Investigation reveals that since the increase in the duty and levy paid on imported new vehicles from 20 percent to 70 percent by the Federal Government, Nigeria’s automotive market has started witnessing a systematic drop in the volume of imported new vehicles. However, this development is also opening up new market opportunities and frontiers for importers, auto dealers, shipping companies and the entire business community. BusinessDay further discovered that several auto makers like PAN-Nigeria Limited, VON Automobile (Stallion Group); Innoson Vehicles Manufacturing and Transit Support Services are already making in-roads into the business of assembling new vehicles in Nigeria. Also, Cosharis Motors, Globe Motors and Peace Mass Transit are among the category of auto makers that are currently at preliminary stage to kick-starting their individual assembly plants. “Nigeria’s containerised import market is expected to enjoy positive growth of about eight percent on the back of the importation of new auto spare parts for the upcoming assembly plants in Nigeria,” a recent Maersk Nigeria trade report noted. The projected growth, the report stated, is seen as the new opportunities inherent in the shipment of finished auto parts to service the demand of the assembly plants that are expected to take-off and to drive the local production of made-in-Nigeria vehicles as projected by the Federal Government. “The implementation of the new automotive import policy will see an increase in containerisation of vehicles in knocked down condition shipped to new assembly plants in the country. All of these indications suggest positive volume growth in containerised imports in 2015,” says Jan Thorhauge, managing director of Maersk Nigeria Limited In his own view, Tony Anakebe, a renowned maritime analyst, who confirmed to BusinessDay in a telephone chat that there would be an increase in the volume of imported completely knocked down (CKD) spare parts in 2015, also questioned the place of this increase in volume on the market price of new vehicles that are assembled in Nigeria especially as it concerns the purchasing power of an average Nigeria. Anakebe, who also affirmed that the assembly plants and vehicle manufacturing in Nigeria will create huge employment in the country, also expressed skepticism about the quality of vehicles that would be produced in-country compared to the quality of imported ones. Explaining further, he stated that currently with a minimum of N1.8 million that an average Nigerian can buy a very good ‘tokunbo’ vehicle that would serve him for a minimum of five years but the least price for a new car assembled in Nigeria would go for about N3 million. http://businessdayonline.com/2014/10/fgs-new-automotive-policy-to-open-up-more-opportunities-in-import-business 2 Likes
|
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Vstuffs(m): 6:30am On Oct 29, 2014 |
Good News For AUTO-DEALERS BEFORE I FORGET .....FIRST TO COMMENT CHECK MY SIGNATURE 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by eleko1: 6:30am On Oct 29, 2014 |
M |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Youngzedd(m): 6:30am On Oct 29, 2014 |
Really It's good.
|
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by VocalWalls: 6:30am On Oct 29, 2014 |
Even if for nothing, the opportunity for Nigerians to use brand new cars, and the jobs that have been created, earns an applaud for this policy. 9 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by QMark: 6:30am On Oct 29, 2014 |
hopefully 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by smudge2079(m): 6:30am On Oct 29, 2014 |
Dat's a welcome development. GEJ till 2015. 2 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Nobody: 6:30am On Oct 29, 2014 |
They keep bringing making frivolous statements about what and which will enhance the economic.. Still ain't seeing changes.. Agriculture and petroleum still impacting minimum and their talking about auto mobile.. Smh.. 3 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by GoodluckJonatan: 6:31am On Oct 29, 2014 |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by GoodluckJonatan: 6:31am On Oct 29, 2014 |
! |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Damalex4luv(m): 6:31am On Oct 29, 2014 |
Propaganda of the highest other. Wetin koncern mi.. listening to Osupa ikede pataki... Oya joooooooooo |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Donsammi(m): 6:31am On Oct 29, 2014 |
fwesh.air! .... 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Ramanto(m): 6:31am On Oct 29, 2014 |
it is a wow development 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by drkay(m): 6:31am On Oct 29, 2014 |
That's a good initiative. 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by richardjemedafe1(m): 6:31am On Oct 29, 2014 |
Yt |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by GoodluckJonatan: 6:32am On Oct 29, 2014 |
Dis FG sef, which one dem dey do: are dey for made in naija cars or d imported version clueless lyk GEJ 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by ramje(m): 6:32am On Oct 29, 2014 |
Makes sense |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by ichidodo: 6:32am On Oct 29, 2014 |
The sooner we ban Importation business the better for our exchange rate.... 3 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by dotna(m): 6:33am On Oct 29, 2014 |
Good only if we are exporting more than importing just like Japan 2 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by sammieguze(m): 6:34am On Oct 29, 2014 |
Sure. At least...... We gotta import the parts to be assembled. GEJ till 2015 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by BrAkingNews: 6:34am On Oct 29, 2014 |
great, let the economy move on Photos: The Execution Of Notorious Nigerian Robber ‘Doctor’ Ishola Oyenusi 1 Like |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by njuwo(m): 6:34am On Oct 29, 2014 |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by BrAkingNews: 6:34am On Oct 29, 2014 |
QMark: |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by MuguliciousMUGU: 6:34am On Oct 29, 2014 |
This story looks boring to me... Next. |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by kevinaduga(m): 6:36am On Oct 29, 2014 |
It's a welcome development. However, the policy should systematically seek to manufacture more of the vehicle parts here in Nigeria, rather than relying solely on importation. This will make us more economically self reliant and also provide more employment opportunities. The steel mills should be repositioned to adopt modern and technologically enhanced methods of steel production. This will make the production of high quality car parts here in Nigeria possible. 7 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Nobody: 6:37am On Oct 29, 2014 |
We need more opportunities in Auto Manufacturing and not Auto Import. Let our teeming unemployed youths be gainfully employed instead of some silly importation cabals.
|
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by S3un(m): 6:37am On Oct 29, 2014 |
we don dey hear all Dis shit since |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by benega: 6:39am On Oct 29, 2014 |
K |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by condralbede(m): 6:41am On Oct 29, 2014 |
Its a welcome development.... GEJ till 2029.....fresh air at every sector of our economy. 2 Likes |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by pastoraaaaaa: 6:43am On Oct 29, 2014 |
Re: Fg’s New Automotive Policy To Open Up More Opportunities In Import Business by Nobody: 6:45am On Oct 29, 2014 |
K |
FWD Vs RWD: Which is Better? / Car Caught Fire In Awka, Near Central Bank By 6:12pm Today / Which Is Better? Automatic Transmission Or Manual Transmission
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 37 |