grandlexuz:


Those are a very valid points you raised. However I think in a struggling economy and country like Nigeria where millions of people still go to bed hungry, people die from preventable and treatable illneses like malaria, cholera etc, the production of local cars is hardly its top priority.

With Nigeria's number one commodity in free fall, avenues to raise cash becomes a priority. If you ask me if bringing down custom duties is directly proportional to more funds for the cash starved government then it is a win win situation for both the citizens and the government.

Mind you even China with all its technological might and wealth still depends on the importation of cars. In 2019 only two local brands featured in top ten sales. Volkswagen leads the sales with importation of cars making 63% of car sales in China

It's ok. Though most of the foreign cars sold in China are assembled locally.. As per more money for the government? Lol. Add another thrillion naira in their revenue, it will disappear through estacodes, inflated contracts and jumbo allowances for political office holders. They will still complain of lack of funds to run the government. I do understand your perspective tho..

Xyz001:
Your ignorance can't be ignored.

IVM is one of the car assemblers in the country. There is no car manufacturer in Nigeria.

Yes, the policy will affect all Automobile assembly plant in the country.

We have the Volkswagen plant in Lagos, Peugeot Automobile Nigeria, Nissan Motors, Honda Motors, Innoson Vehicle Manufacturing Company, Hyundai Motor Company, Ford Motor Company, GIC Motor Companies Ltd, JAC Motors and Kia Motors..... ..

Yet, IVM main customer is the Nigerian Government, what else do you guys want?

How many times have you seen IVM adverts both online and offline? How many times?


The country needs money, we are faced with recession, Nigeria is broke and all you could think of is tribalism.

You guys needs deliverance.

Those guys can't follow a valid argument unless it's slanted to either partisan politiics or tribalism...APC v. PDP, Igbo v. Yoruba stuff

Rugaria:
That will bring more revenue to Nigerias government because it will kill the car importation business through cotonou. But at the same time, it may mark the end of our growing automobile industry. The likes of innoson should worry. Government has chosen more money over greater technology transfers here. Obviously, the government is really cash strapped. Benin republic rakes in billions from Nigerians through the many cars going towards Nigeria that are cleared at her ports every year. It may also improve the quality and models of cars driven in Nigeria. You will be surprised that in relative terms, folks in cotonou drive more recent models of cars than Nigerians. Nigerians have to drive older models because importers pay lesser duties on those, thereby standing a better chance of making more profits... Problem is that the accrued revenue will ultimately disappear into private hands or end up being used to biuld up Niger republic..

Innosons cars are just as expensive as the foreign cars.... so now point hiking foreign cars duty....

Rugaria:


It's ok. Though most of the foreign cars sold in China are assembled locally.. As per more money for the government? Lol. Add another thrillion naira in their revenue, it will disappear through estacodes, inflated contracts and jumbo allowances for political office holders. They will still complain of lack of funds to run the government. I do underrstand your perspective tho..

Haha. African governments and their wahala. The problem is same in my country Cameroon.

Gilbertase:
and irredeemably stupid.

Very very..

OneTemplate:


Exactly. The immaculate and mechanically sound articulated head below is an examples of the type Nigeria need to aid her haulage sector.

At 15k euros, then add 35% duty and many miscellaneous charges, this is simply beyond the power of many but the Dangotes and BUAs of the world.

This move is long overdue and one I am sure would not have happened but for the economic devastation of covid-19.

Yh bro, been a long time overdue and exactly imagine the cost of bringing in and clearing that machine and Nigeria being a developing country needs more of those kind of machines for building and development.
I really hope they implement the lower clearings cost asap as they claimed.

..you don't just wanna price a tokunbo car these days bro

How about our regular cars?

tsdarkside:


abegi park....!!

how many of you igbos actualy bought innoson cars....??

people dont want made in nigeria....their is nothing you can do about that fact....
you cant force me to buy cassava when i prefer basmati rice from india....

its my money....
what nigeria can still do is providin things that people prefer and not forcin them to what you have....

if nigerians prefer ferraris,then nigeria have to try to build something like ferraris or even better....

what happened to the policy of protecting our indigenous firms? Brother let be reasonable at times ,i have no business with innosson.but the must be told if we have any love for our local manufacturers, we must protect them.

nograv:


I think it is clearly aimed at IVM..

Firstly you are an economic illiterate. All major economies have duties to protect their industries. Especially those that they wish to develop them domestically.

In Japan, Germany and Koreas case they impose hefty duties on foreign cars to favour their own car makers. The result being that the majority of cars driven in their nation are from national carmakers.

In China’s case to avoid heavy duties you have to build a factory in China as Tesla and BMW have done. Only problem is they steal your tech.

America is an interesting case study the majority of cars they drive are American. But the majority of vehicle US manufacturers specialise in are SUVs, why because a foreign SUV attracts 35% duty if imported. A much lower share of other cars are American made in the US because they attract lower import duties.

If you are going to tell lies at least tell a good one. Protecting domestic industry is the first step in industrialisation. From the Meiji restoration in Japan to the more recent miracle on the Han in South Korea, there is no other way.

Yet again Buhari and his cabal highlight their tribal bigotry and economic illiteracy... clowns

Vote them out in 2023..

Factual minus the ivm comment and the last paragraph

Do you think Innoson is a fool, the man has close to 40 years of solid experience in operating in the minefield called the Nigerian market place.

Innoson is a heavily diversified manufacturing company...........They just launched a cab hailing service with hire purchase options for the drivers. innoson is nimble enough to survive

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

Officialgarri:
This is like telling Innosson to go to hell.

Innosson products are less affordable. But can we blame him ? I think NO.
The cost of producing raw materials in Nigeria is not cheap not only because of limited technological know-how but because we are solving problems upwards to the ground instead of the other way round.

What do I mean? If there are enough automotive spare parts production industries in Nigeria despite our abundance of iron family (lead and zinc) , then the problem of monopoly and inflation will be solved on it's own.

The government on her part will not continue to wait for Innosson to bring down their prices

This is the problem of this country...so other ppl should go and die because of innosson. Mad Nigerian citizens

confirm! intelligent one!

People like you should be appointed special adviser not the one they appointing Bbnaija dullards with only Ass and beauty to their name

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

Boss..u too get brain

If you want to reduce the cost of transportation build good roads, rebuild and modernise our rail network to transport goods and form federal couriers that are exempt from the corrupt bribery going on daily on roads.

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

Typical Nigerian prejudice has killed you.

These are the same people who encourage importation of petrol into an oil Rich country.

Useless set of people

Officialgarri:
This is like telling Innosson to go to hell.

Innosson products are less affordable. But can we blame him ? I think NO.
The cost of producing raw materials in Nigeria is not cheap not only because of limited technological know-how but because we are solving problems upwards to the ground instead of the other way round.

What do I mean? If there are enough automotive spare parts production industries in Nigeria despite our abundance of iron family (lead and zinc) , then the problem of monopoly and inflation will be solved on it's own.

The government on her part will not continue to wait for Innosson to bring down their prices

so because of innosun make others nor import cars abi? Kid

It is well with Nigeria and Nigerians. Being selfless in reasoning and our actions would go a long way to rebuild this nation however tribal and political talks and arguments would cause more harm than good. To this end, I support this move by FG. It will surely revive our ailing economy.

We want to play our own part providing jobs for the unemployed youths. Kindly patronize our cleaning services, there is a promo ending 31st December 2020.

tsdarkside:


ehen....

soo,we should care about your igbo cars....??
what makes you think innoson is something special....??

not even you patronize your own....

i can import a car for just 2000dollars and sell it for double in nigeria....

this is a stupid comment.

OZOnNengiTheory:
This is why I hate them and I am terrible at hiding it.

Hypocrites! that's what they are. And by the grace of God, they will never come close to ruling this country.

your hatred will surely lead you to hellfire
cant you see you need help

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

You've said it all. And I will always say it, Innoson has a terrible marketing strategy. Apart from the South east, you rarely see the car outside that region. You only hear about them on social media. It looks like he is very comfortable with the status quo, imagine if Dangote or BUA owned it.

Simplyleo:
As usual, we are always the target.

They want to kill IVM.

Increase import duties: The govt is insensitive to the plight of the masses.

Decrease import duties: the govt want to kill IVM.

Very funny pipu.

You should consider working for Joro.

You both are the first to identify a problem and both of you are still the first to counter and respond to it, while pretending to do so on the behalf of others.

SimplyJoro

What of the cost of dollars in purchasing the car

heed101:
Those shouting that they want to kill lVM, how many IVM can you count in your area or on our roads? IVM can carve a niche of producing luxury cars and the rich will patronize him.

I dont think the material cost incurred can make IVM produce affordable cars.

Govt reducing import duties is a welcome development. It will boost our ports activities and more jobs would be created. Consumption of fuel will be increased and create more revenue to the Govt.

What about spare part market that has been dwindling due to low demand of spare parts? A new shift will come into the market.

Good development I must say.

We are missing something here. According to the post, the official said this move will reduce transportation costs. Do you have any idea as to how it will do so?

Xyz001:


I agree that IVM owner is a Nigerian.

Don't take my word that IVM is an assembly plant, that is what it is.

Read about Semi Knocked Down (SKD) and Complete Knocked Down (CKD), it will give you an insight on IVM business.

Do you even know that IVM automobiles are of Chinese origin?
He is not doing anything special. It's just a typical buying, coupling and selling.

When will you or your kinsmen start to buy from China or wherever, couple and sell here in Nigeria?

tsdarkside:


ehen....

soo,we should care about your igbo cars....??
what makes you think innoson is something special....??

not even you patronize your own....

i can import a car for just 2000dollars and sell it for double in nigeria....

Come back and cry that there are no jobs in Nigeria and you all want to elope to foreign lands to work under slave conditions. Import cars and kill your local car industries.

The simple truth is that this government never had, does not have currently and will not have any idea of how to make Nigeria a better living place for everyone.

Every developed country has solid policies in place protecting their agriculture and ensuring food stability first. Your government has policies in place ensuring poverty daily and starvation. What is the purpose of dropping import duty on cars when the people are hungry? Borders are shut yet the policy of growing the local rice industries has failed completely. In fact there was no sufficiency in the first place before borders were shut last year. The effect is what we all experience today with the price of rice @35,000 a bag. The idea of lowering car tariffs is expected to achieve what in the lives of the people who are already impoverished? Why will this government not tackle food first?

And by the way is Innoson the only car manufacturer in Nigeria? There are other truck and car assembly plants in Nigeria and they will all be affected. If government intends to promote local industries as they claim, why lower duty on imported cars whereas duty on car/truck CKDs will likely remain the same? What about the effect on labour? How caj locally manufactured cars be delivered at lower rates? Let's cut off tribal/political sentiments talk about this issue more seriously.

odimbannamdi:


We are missing something here. According to the post, the official said this move will reduce transportation costs. Do you have any idea as to how it will do so?

Well, someone has analysed that from the comments. Cost of conveyance of goods and services will be reduced due to competitive pricing among transporters. Dont forget that vehicle purchase cost will reduce thereby encouraging more investment in that sector.

ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.

---

He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.

---

Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

What do you produce Probably nothing. You are probably unemployed.

tsdarkside:


who cares....

you think just like that fg is trying something else....!!??

you no wan patronize made in nigeria....!!

but they are patronizing made in Nigeria goods.....shey because I have shares in Xbox that now means I should not buy PS5 ?

Rugaria:

Best bet will be to quicken the process of manufacturing most of his raw materials locally. That will be capital intensive tho. Maybe alligning with the Chinese suppliers to set up shops locally.. In better managed environments, government would have helped to prop-up factories to help the supply chain. But this government is more interested in tax and spend. It's very easy to revert to policies like this to jack up revenue in the short term, but domesticating sundry technologies related to the car manufacturing business will ultimately grow the economy/Nigerias industrial base in the long run. There is also the problem of costant change of policies. Most of the big brands trying to open up assembly plants in Nigeria may not go on with the plan. Obviously, tokumbo cars will be cheaper..

How do you manufacture raw materials?

Please when will this be implemented?

Cantonese:


Come back and cry that there are no jobs in Nigeria and you all want to elope to foreign lands to work under slave conditions. Import cars and kill your local car industries.

The simple truth is that this government never had, does not have currently and will not have any idea of how to make Nigeria a better living place for everyone.

Every developed country has solid policies in place protecting their agriculture and ensuring food stability first. Your government has policies in place ensuring poverty daily and starvation. What is the purpose of dropping import duty on cars when the people are hungry? Borders are shut yet the policy of growing the local rice industries has failed completely. In fact there was no sufficiency in the first place before borders were shut last year. The effect is what we all experience today with the price of rice @35,000 a bag. The idea of lowering car tariffs is expected to achieve what in the lives of the people who are already impoverished? Why will this government not tackle food first?

And by the way is Innoson the only car manufacturer in Nigeria? There are other truck and car assembly plants in Nigeria and they will all be affected. If government intends to promote local industries as they claim, why lower duty on imported cars whereas duty on car/truck CKDs will likely remain the same? What about the effect on labour? How caj locally manufactured cars be delivered at lower rates? Let's cut off tribal/political sentiments talk about this issue more seriously.

bros,wetin nna....??

why this long epistle....??

are you trying to talk me to sleep or what....??

their is nothing to talk about more seriously....
people dont like made in nigeria....its that simple....