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Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun - Car Talk (2) - Nairaland

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Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by nkpommpko(m): 4:59pm On Aug 20, 2016
vedaxcool:
[s][/s]

Dude just learn to Read and Comprehend
don't mind the half baked economist all they see is hate.

1 Like 1 Share

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by WhoBeThisMan: 5:01pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by billyG(m): 5:01pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D
Hey wailer!did u read d bold @ all,that is Y u cnt pass WAEC English,after u will call somebody a Dullard.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Jethrolite(m): 5:01pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D
To this point, I thought you were a smart person.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by theophorus(m): 5:04pm On Aug 20, 2016
..Observing..
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by maxzzo1(m): 5:04pm On Aug 20, 2016
vedaxcool:


And this happened only to you?
See how mouthy u are....you not into import so u would not understand....
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by chyket(m): 5:08pm On Aug 20, 2016
Brilliant idea!!! I have always wondered why Nigerians should be going to Cotonou to bring in vehicles over the years.This singular harmonisation of import duties with Cotonou rate will in the long run divert over 60% of the revenue previously lost to Benin republic.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Spells(m): 5:09pm On Aug 20, 2016
When will 1naira, =1$
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by BABANGBALI: 5:10pm On Aug 20, 2016
Finally it is time for lala to get a car
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Dee60: 5:11pm On Aug 20, 2016
APC government is indeed showing signs of paranoia. Leave past government alone. What people are stealing under you can also buy single jewelries that are worth 50,000USD.

Or is she she saying that stealing has stopped?
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by investnotspend: 5:12pm On Aug 20, 2016
jarkbauer:




I thought she said they are reducing import duty.

No mind the guy he no sabi read , if they send them to school na bad gang them go go join
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by colosa: 5:12pm On Aug 20, 2016
Well let see what happens
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by HIPROFILE(m): 5:13pm On Aug 20, 2016
The we will government of buhari at it again.... We will....this one she used would which means its under probability which to me is nat high...well let's see we are watching
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Zico5(m): 5:16pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D
I think u smoke kaikai, hatred has blindfolded to read the message properly before jumping to conclusion. Wailer will always be wailer
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by 989900: 5:19pm On Aug 20, 2016
loveuGOD:
Nigeria dont have stable policy and that is why investors ran away.
When we are encouraging motor companies to come and build their plants here and at the same time encouraging tokunbo to flood d market.
One step forward ten steps backward.

This does not hamper local car production at this stage.

Our local car manufacturers CANNOT meet up with even 5% of the demand.

That said, few people can afford a new car.

To grow local car companies aggressively, you need our steel factories, low rates car loans (VERY IMPORTANT), and stable power supply.

Do that, the Toyotas, Hondas, Mercedes, Tatas, Hyundais and co. will come and establish their factories here . . . the market is large, they can feed a large chunk of Africa from Nigeria, then, you will automatically see car imports reduce -- we using 'Tokunbos' is a child of circumstances -- we rode strictly new cars in the 70s and early 80s . . . PAN was doing great then.

6 Likes

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Chukazu: 5:20pm On Aug 20, 2016
princemillla:


Did you read the news before vomiting those words. Someone is even trying correct you are speaking gilberish ...

Learn to read and comprehend issues at hand

but some pple still clicked the "like button" for him, that means he has "disciples of slowpoke"

2 Likes 1 Share

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by yomz1e(m): 5:20pm On Aug 20, 2016
let me add to it, all they read is the 1st line and quickly straight to comment.... dumb twits. which means bringing cars from places like Cotonou will incur less tariff... kapish?

vedaxcool:
[s][/s]

Dude just learn to Read and Comprehend

1 Like 2 Shares

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Ghost01(m): 5:27pm On Aug 20, 2016
ephi123:
"But, some other taxes, which she described as colonial rates, will be jerked up to reflect present realities."

Put one tariff down, bring 10 up. Confused policies up and down. Mschew
That's how it is done everywhere, depending on the direction the government in place wants to follow.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by tolayemi: 5:27pm On Aug 20, 2016
ivandragon:
& yet, we want our local industry to grow...

tomorrow they will come & scream how we need to buy local. we have 14 vehicle assembly plants. rather than improve infrastructure to make the cost of business cheaper and encourage them to move to full production, you want to encourage the same problem that has stunted our manufacturing sector...
our local industry dont produce cars

1 Like

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by MoneyGreen(m): 5:28pm On Aug 20, 2016
So na when dem go reduce garri own?
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by seguno2: 5:28pm On Aug 20, 2016
loveuGOD:
Nigeria dont have stable policy and that is why investors ran away.
When we are encouraging motor companies to come and build their plants here and at the same time encouraging tokunbo to flood d market.
One step forward ten steps backward.

Thanks for your better post.
Many will be shouting UNEMPLOYMENT but will support this reversal of the automotive policy of the Jonathan administration that encouraged companies start assembling vehicles here and progressively source for manufactured parts here.

Labourer wey dey chop bread no sabi sey na im own scalp na im e dey chop.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Krismart(m): 5:36pm On Aug 20, 2016
vedaxcool:


And this happened only to you?
Oga if u are not in d field just close ur mouth. He that wears d shoe knows where it hurts. Don't argue based on hearsay
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Decodedp: 5:38pm On Aug 20, 2016
Someone is about to kill the auto industry that Jonathan worked so hard to revive.

Why not encourage the customs to redouble their efforts to substantially reduce smuggling while you speed up the implementation of the auto policy by introducing (government assisted) flexible payment plan to encourage people to buy new and made in Nigeria cars.


If you must reduce the duty why not do that for the entire border so that people can import directly into the country instead of weakening the naira against the cefa.

3 Likes 1 Share

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Horsesmouth: 5:39pm On Aug 20, 2016
I dont know if its just me,
But doesnt this woman look uninspiring with her mouth closed, and
Sound bereft of ideas when she speaks?

She is by far the worst Finance person I have ever read of.

1 Like

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Ayoola171(m): 5:40pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D
Is like you don't read before you comment or you don't comprehend what you've read. I suggest you go back and read the content of the message very well.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by ivandragon: 5:41pm On Aug 20, 2016
tolayemi:
our local industry dont produce cars

kindly 'read' what I posted again...

2 Likes

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Krismart(m): 5:44pm On Aug 20, 2016
Govt. milking the citizens just to generate revenue. For una datz diversification of economy. Lets see how long this will go

1 Like

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Wyttcat: 5:50pm On Aug 20, 2016
Nice!

Abeg is any used car Tokunbo even if it was driven for a year?

I know about the real Tokunbo, like the ones that have actually been in the okun flood like in Louisiana (hehehe not funny oo) that are going to be making their ways to Nigeria soon.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by Wallie(m): 5:52pm On Aug 20, 2016
chyket:
Brilliant idea!!! I have always wondered why Nigerians should be going to Cotonou to bring in vehicles over the years.This singular harmonisation of import duties with Cotonou rate will in the long run divert over 60% of the revenue previously lost to Benin republic.

Bad idea! The real solution should be tightening of the border!

Reducing tariffs means that more people will import vehicles instead of patronizing Nigerian made or Nigerian assembled vehicles like Innoson, Nissan, etc.

2 Likes 1 Share

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by adisarasaq(m): 6:02pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D


Tariff was never increased, what really happened is that the increase in exchange rate is affecting the calculation of the import duty, ex factory price remain the same.

Duty to be paid on cars valued at $2000 @197 naira exchange to a dollar is quite lower than the same car at $2000 but @313 naira exchange to a dollar.

Example >
Before
Your car is valued at $2000, and the exchange is #197 to a dollar

2000*197=394,000
394,000*35%=137,900
Your basic duty is #137,900

Now
Your car valued at $2000 exchange is #313 to a dollar

$2000*313=626,000
626,000*35%=219,100
Your basic duty is #219,100

The difference is #81,200.

The effects of the exchange rate is really tormenting, government can only help by reducing the percentage that is to be paid on the imported goods, for example from 35% to like 10%.

If the statement credited to finance minister is true then it's a right step for now.

4 Likes

Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by ephi123(f): 6:18pm On Aug 20, 2016
Ghost01:
That's how it is done everywhere, depending on the direction the government in place wants to follow.

Which everywhere? Is that how developed economies are run? Hell no.
Re: Duties On Tokunbo Cars To Be Reduced - Kemi Adeosun by LordVoldemort(m): 6:31pm On Aug 20, 2016
calculusx:
Miss Minister Inflicting Pain and hardship on Nigerians all because you want to raise revenue?

I don't understand her kind of economics, increasing tariff discourage importation which means many jobs will be lost. Grimaldi has sacked almost 80% of their drivers because few people still import Cars.

High Tariff means low revenue. Why not reduce tariff to encourage importation so you can generate more revenue since we can't manufacture Cars in Nigeria for now.

Watching this administration with 3D


Can you just take a moment and read the post again

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