When the automotive policy was started, a Toyota Yaris sold for 2 million only and a Hyundai Santa Fe sold for 2 million Naira only. Now, used vehicles of that year (2010) sell for the same price.

Nigeria has 200 million people but only 10 million cars.
Nigeria had high unemployment.
Nigeria's official government minimum wage is 18,000.
Only 10% of families earn $10,000 annually.
Many people are paid N10,000 or less monthly.
We don't have free education for all.
We don't have free healthcare for all.

The automotive industry will ban virtually all used car imports. Note that new cars sell for minimum 6 million Naira. Some can go up to 30 million for Hilux or Prado.

The Automotive Policy as it is is unfit for purpose. Even Innoson who said he was working on producing new cars that will come out at 2 million Naira can't sell cars for less than 6 million. I know he said this before now when 1 USD was ~ 200 NGN.

They should proscribe that government and big companies should buy new cars from local assemblers. If they want to ban anything, they should ban the importation of brand new cars.

How will such a ban work with the new AfCTA Note that if we ban be cars assembled in Africa, Nigerian assembled cars will also be banned or tariffed to the throat.

This wailing by Coscharis is not going to help the average Nigerian.

Reference:
As we shun industrialization we get poorer and poorer and the gap between us and what other progressive nations make will continue to widen. So we can sit our lazy asses down and do nothing but whine that we cannot afford what we should make. Very soon the world willrun out of cou tries that can make stuff we need and we will be left at the bottom of the ladder or at the base of the table eating the leftovers of the world.

We are not even ashamed to admit we prefer to buy used stuff. We gleefully defend it at the expense of our prosperity. I am not saying it is a crime to buy used but it is a shame to make it a way of life, of thinking, of hope and of the future just as begging is not crime until it becomes a way of life.

Boy we have no leadership. No one to inspire and inject national pride into a people and wake them from the slumber of hopelessness. All we have are leaders of deceit who paint rosy pictures in the daytime and join us to rest under the bridge in the wee hours of the night when no one is watching. Hapless nation.

If I were to be president in this situation today I will be on speed dial with every major industrialist in Nigeria and I will want to know their thinking and positive moves even before they imagine them.

Even in the abroad that he is talking about, almost nobody buys new cars with cash. Everybody pay gradually over 5-10 years, most times at zero (0) percent interest.

scudmiz:
Look into your marketing strategy. Many middle level Nigerians are ready to get the cars on loan to be repaid over 5 - 6 years when linked with their banks or pension fund collectors. Nigerians will support this laudable project if it is made affordable to them. I believe that the quality of the cars meet or better the tokunbo cars.

This is a lie. The head of the NAIDC (Nigeria Automotive something something) is from the north.

tex73:
If it were Dangote lor someone from the North, all importation of cars would've been baned. Thats how he became a billionaire. All policies were made to favor him and r still made to favor him and the northern elites .

straighttalk:
You are only being business oriented. Businesses are all about being bold and courageous to take risk

what he sees other company are seeing the same. The rubbish going on in Nigeria port will reck any business. You competitor get their goods 1 months and 3 week maximum but you are not sure if your would be out in 3 month with exorbitant charges.