The recent 40 per cent hike in the exchange rate for cargo clearance at the seaports and the increase in tariff on imported cars by a terminal operator, Ports & Terminal Multipurpose Limited, has led to about 70 per cent drop in the sale of second-hand imported cars.

The PUNCH reported last week that the Central Bank of Nigeria and the Nigeria Customs Service had taken the ongoing foreign exchange reforms to the maritime sector with a 40 per cent increase in the exchange rate used for calculating the import duty.

The NCS had a few weeks ago raised the exchange rate used for the calculation of import duty from N422.30/dollar to N589/dollar.

The development, which has led to a corresponding 40 per cent increase in import duties on imported cargoes, including vehicles, has caused anxiety among operators in the maritime sector with clearing agents, freight forwarders and importers calling for an immediate reversal of the policy.

Greedy useless car dealers. All they know is to cheat people off their money buy iPhones, rent houses in estates and Bleep olosho.

What do u do “am a car dealer”

visaclick:
Greedy useless car dealers. All they know is to cheat people off their money buy iPhones, rent houses in estates and Bleep olosho.

What do u do “am a car dealer”

Haba bros be calming down, I believe you know nothing about car dealership, so why not ask questions first before calling people names out of ignorance.

How does the headline positively correlate with your post? As long as there is no super efficient public transport system, people will always buy and use cars.

When the tariff was increased years back, I thought Nigerians will use their cars better but that's not the case today. Usage habits remain the same thanks to low income levels, bad roads and poor maintenance culture. What we have now are battered cars selling at higher exorbitant prices.

Car prices will continue to go higher because the demand is constant. For consumers, it's advisable to get a good car and maintain it so you can use it for much longer.

Personally I favour more practical cars as well like estate cars or Recreational vehicles. They have space to carry stuff and can be used daily due to manageable fuel efficiency.

My 2010 es350 Dey come from Texas USA Na 10m i go sell. Take ur case to court.

visaclick:
Greedy useless car dealers. All they know is to cheat people off their money buy iPhones, rent houses in estates and Bleep olosho.

What do u do “am a car dealer”