This idea should be implemented sharp sharp....

calculusx:


What she is trying to do is campaign after election. Damage has been done already before she realized her mistake. What will happen to those that cleared their goods at the rate of N313 to a $ and are yet to sell them. Lets see what they will reduce the tariff to before celebrating. No too much talk before they will come and knock on my door I don't have any goat ooo

bros don't mind those that argued what they don't know, those that are not into importation will not understand what you are talking about,
If they are they will not argued ur coment thks

DaBullIT:
Why can't they subsidize new cars abi masses head no climb brand new cars?


It's a good start anyways

subsidise new cars? some ppl are funny o, how will that help the masses, no be rich person dey buy car? so they shud help the rich? lolz Nigerians are just funny, and if they do that now ppl like u will come and condem it again.. reduction on import duty means cheaper price on tokunbo cars and an average Nigeria cud buy for as low as 200k..

Hm

jhydebaba:




http://thenigerialawyer.com/duties-on-tokunbo-cars-to-be-reduced-says-kemi-adeosun/

Good

sultaan:
Lots of smart response here on politically in economicsland they will beg you to import cars so they can get some money and Republic of Benin will reduce their duty too to stay afloat. This is business

Yeah.

calculusx:


What she is trying to do is campaign after election. Damage has been done already before she realized her mistake. What will happen to those that cleared their goods at the rate of N313 to a $ and are yet to sell them. Lets see what they will reduce the tariff to before celebrating. No too much talk before they will come and knock on my door I don't have any goat ooo

Nothing they will say or do will please u pple , enemyyyyyyyyyyyy

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...

who says the gov are nt improving infrastructure? how many of the so called assembly company will sell their least cars below 1million and how many Nigeria can afford a million. they idea is to create a level playing field, the the rich buy the expensive new cars and let the poor buy the cheap tokunbo. infact the gov shud even increase tax and the rest on new cars and the company, that way a rich man won't have multiple cars and still be invading tax while a poor pepper sell is forced to pay tax. if u wanna criticize atleast let it be constructive nt just for criticism sake. u are nt angry at buhari that me bt doesn't mean I will criticize every they do, when sometin is bad let's condem it and when is good pls give kudos. I read it all and some part ok Nd some nt

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

If u re In Europe n America, u pay for these things, but in Nigeria they don't want to pay!! and yet, they want a good economy.

This is a classic case of policy Summersault. Just When we thought the fledgling policy on home-built automobiles is beginning to yield fruit... Movement without direction. How can Nigeria grow when the powers-that-be wouldn't even allow a policy some time to work. How can our automobile sector grow with this policy? If our people are so fucking dull, at least they should be able to understudy countries like China, India, Japan and Korea. The excuse that vehicles are being smuggled illegally into Nigeria, thereby denying us the opportunity of revenue on these vehicles doesn't hold water. The better option would have been strengthening our border patrol and stemming the tide of smuggling ( in this age of reconnaissance UAV where a large swarth of land can be put under surveillance day, night and in adverse weather condition). Now, tell me we are not going to lose multiple times more when these automobile companies decide to stay put in South Africa and Egypt, shipping these vehicles in from there. Why can't we leverage on our huge automobile market (population) and arm twist these companies to setup their plants here?

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 am a firm believer in free Trade and support a slash in import duties. The article said government wants to reduce import duty which is commendable on cars. All import bans and prohibitive duties must be done away with as well. It simply encourages smuggling and the production of goods in which the country has no comparative advantage

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.

doubt u read it at all so leme explain the point shes making to u... with the policy to encourage investor into the car industry and the ban on tokunbo cars, the so called tokunbo cars are smuggled into the country, and tax in form of revenue for gov are evaded so why not just let them bring it in freely and make income from it. the so called car assembly investor knew they are tokunbo cars brot into Nigeria b4 the decided to come to Nigeria to invest b4.... and I atassemblyky ppl talk abt car assembly company like is a good thing.they make parts abroad and come to nija to assemble just annoying, when policy shud be made to encourage original manufacture of cars in Nigeria, innoson cars almost 80% of its part will local materia here read it will soon start making is own engine, that's what I wanna hear.. u see company's do talent shows and reality show and all they do is sing dance and all that, make a reality show for inventors, give them task, project and u will surprise what Nigerians can do. I stay in lag and I have seen a car made by a Nigerian in Ikeja. I saw the guy drive it and he claimed it could run on a water way, have also seen a Nigerian on YouTube build a prototype excavator. so stop all this over hyping of assembly companies. nigeria shud be making like napep by now. jeez

It seems nothing this government does will ever make some people happy. If they reduce import tariff, some people will complain. If they increase the tariff, the same people will still complain. At times, I'm tending to believe that there are a specific set of people who are paid to complain on online forums against any policy decision by this government.

This is a welcome development. ...if custom duties on cars is reduced it will not only help people jn Nigeria alone but people who work abroad and send things home....for instance .compare to 2012 we clear peugeot 406 at 200k but today if you don't have 350k u cant clear the same peugeot 406 ...so reducing the duties will make people to go back d business or shipping goods like before........ secondly I read somebody talking about nigeria inviting motor plant to nigeria and encouraging tokunbo at d same time.........if new car is produced in Nigeria.....only few we have access to it...because we are not like foreign countries. .......my house ny car and many more that I ca ment I didn't buy then cash ...can such a thing work in Nigeria....so let people who can afford new car do and hustler go for tokunbo....

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...

''Neither flesh nor blood hath not revealeth this to you...''

The country is so lazy to work. They prefer the easy way out even if it will spell doom in the long run. Conflicting principles. This is not an APC/PDP thing. We like to eat food we did not labor to prepare. Why not make a move to improve reliability of Innoson Cars etc., create an enabling environment to ensure business comfort, and let us eventually migrate to using Nigerian made cars. Save ourselves the value lost through this channel? In my opinion it contradicts the economic diversification drive and does not promote locally made ''Buy Nija to Grow Nija'' goods. I do hope this is just for now.

In my opinion it shows a failure of Customs and Immigration. If cars can be smuggled what about weapons? That is why they can open their mouth to say Fulani Herdsmen are not Nigerians. So I ask, non Nigerian come to Nigeria and attack Nigerian citizens and we could not scramble a battalion to go obliterate them and teach them a lesson never to cross our borders again? So will you also legalize AK47s and reduce tariffs on them to make sure people do not bring in AKs illegally? It is window dressing a problem which is more serious than revenue lost. I would rather you improve surveillance and make sure not a single car can be smuggled, thereby giving me some assurance of a well protected border, than reducing tariffs just to encourage people to pay them. There is a bigger problem.

The Federal Government is now as Lazy as most State Governors who just sit down without creating a conducive environment for businesses to establish and flourish, thereby creating IGR for the State and provide jobs for its citizens and residents.

Skseries:
who says the gov are nt improving infrastructure? how many of the so called assembly company will sell their least cars below 1million and how many Nigeria can afford a million. they idea is to create a level playing field, the the rich buy the expensive new cars and let the poor buy the cheap tokunbo. infact the gov shud even increase tax and the rest on new cars and the company, that way a rich man won't have multiple cars and still be invading tax while a poor pepper sell is forced to pay tax. if u wanna criticize atleast let it be constructive nt just for criticism sake. u are nt angry at buhari that me bt doesn't mean I will criticize every they do, when sometin is bad let's condem it and when is good pls give kudos. I read it all and some part ok Nd some nt

I guess you just had to make a comment...

so you support the flooding of your country with imported goods?

you have it totally twisted. why do you think the 14 Assembly plants came about? its because there was a policy put in place to protect the local automobile industry.

if your local industry is provided with enough incentives, it can assemble/manufacture enough goods to compete favourably with imported goods.

as for cost, the more the industry grows, the more mortgages & loan facilities grow (you can have 5 years mortgages & trade ins).

can you even compare the number of jobs (direct & indirect) the local industry will create as against importation?

please, if you do not understand the dynamics of economics & policy articulation , display your ignorance elsewhere.

imagine you supporting the 'death' of the local automobile industry.

ivandragon:


I guess you just had to make a comment...

so you support the flooding of your country with imported goods?

you have it totally twisted. why do you think the 14 Assembly plants came about? its because there was a policy put in place to protect the local automobile industry.

if your local industry is provided with enough incentives, it can assemble/manufacture enough goods to compete favourably with imported goods.

as for cost, the more the industry grows, the more mortgages & loan facilities grow (you can have 5 years mortgages & trade ins).

can you even compare the number of jobs (direct & indirect) the local industry will create as against importation?

please, if you do not understand the dynamics of economics & policy articulation , display your ignorance elsewhere.

imagine you supporting the 'death' of the local automobile industry.

lol is been how many years that policy have been put in place, pls how far has it gone? are the cars made from them cheaper? or have they started the manufacturing. say all the grammar u want reality is reality.

jarkbauer:




I thought she said they are reducing import duty.

you no see say na ipob be that? very ungrateful humans.

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'ld like a toke of whatever u are smoking.

ephi123:


Which everywhere? Is that how developed economies are run? Hell no.

C'mon, besides revenue generation, import duties are used to control consumption of certain products. By lowering the import duty on imported tokunbo cars, the Nigerian government aims to reduce smuggling at our borders and increase revenue generation. Polities around the world, developed and developing alike, adopt similar policies in similar circumstances. Let's consider the content before we criticise.

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

Hmmmm..... Your biased mind did not allow your brain to interpete the write up correctly.

She said they want to review import tafiff tO encourage import and discourage smuggling..

That's what others have been trying to tell you...

calculusx:


What she is trying to do is campaign after election. Damage has been done already before she realized her mistake. What will happen to those that cleared their goods at the rate of N313 to a $ and are yet to sell them. Lets see what they will reduce the tariff to before celebrating. No too much talk before they will come and knock on my door I don't have any goat ooo

Read again. She only talked abt reduction in tarif for cars imported from nearby countries. She said in some nearby countries, the charge just 10percent while as Nigeria charges 30percent and this high charges encourages smuggling. For example let's say you bought a car in cotonou Benin Republic for $1000 the Benin customs will charge u 10percent of $1000 which is $100. Same car will be charged 30percent if you try to cross it legally to Nigeria. 30percent is $300. At the end you will end up paying $100 plus $300 and the total tax will be $400 for a $1000 car. What she is saying in essense is that they will reduce the import for such cars coming frm neboring countries. May be they can make it 15percent there by making total tax to be 25percent. Compare this with when no reduction is in effect. That means total tax would be 40percent. With deduction in tax, you will be saving 40percent minus 25percent. And you will arrive at tax savings of 15percent. I only hope they extend this to other countries were cars come from not restricted to nebors only

calculusx:


You are not in importation biz so you may not know how bad things are. Tariff was increased twice in 6 weeks on the order of minister of finance. so many smes are no longer in business because of high forex rate.

do you realise GEJ actually increased it?

calculusx:


What she is trying to do is campaign after election. Damage has been done already before she realized her mistake. What will happen to those that cleared their goods at the rate of N313 to a $ and are yet to sell them. Lets see what they will reduce the tariff to before celebrating. No too much talk before they will come and knock on my door I don't have any goat ooo

Guy,you agidi strong ooo,you still dey try defend the trash you write when the whole world dey try correct your mistake. Please,read again and if you nor still understand, hire an Economics teacher put you through

DirtyGold:
Clap for yourself.... Weldone!

What's tha business?

Balewa should calm down. 5 naira can still buy matches

You want to improve revenue by encouraging importation of used vehicles against made in Nigeria cars.
Psychos in government.
Worsted government ever.

Wallie:


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.

Easier said than done!!!If you know the number of border locations that Nigerian govt is not even aware,you will reappraise your position.Successive Nigerian governments in Nigeria have tried this route and they always met with failure!!!.You dont keep doing something the same way and expect a different result.

spotmataz:



Hmmmm..... Your biased mind did not allow your brain to interpete the write up correctly.

She said they want to review import tafiff tO encourage import and discourage smuggling..

That's what others have been trying to tell you...

So what is the difference between importation of cars and rice and smuggling of these items

We barely produce 10% of market demand. Why will some people represented by the government bring in a ship loaded with these items pay next to nothing in duty while others with 2 bags are arrested as smugglers.

The they have destroyed the shipping industry they just have to live with the consequence

DaBullIT:

na wao...from kuje to agodi,oko to kirikiri..lols..kai
GMbuhari nko....kirikiri as well llolssss htwooh just come from beans land lollss éwòn

This minister is really daft. They are bent on killing Nigeria. By reducing tariff on vehicles coming in from Cotonou, there will be more traffic in terms of importation via Cotonou, making revenue for Benin Republic. On the other hand importation of cars through our seaports will decline, thereby reducing revenue, creating redundancy and eventually unemployment.

chukel:
This minister is really daft. They are bent on killing Nigeria. By reducing tariff on vehicles coming in from Cotonou, there will be more traffic in terms of importation via Cotonou, making revenue for Benin Republic. On the other hand importation of cars through our seaports will decline, thereby reducing revenue, creating redundancy and eventually unemployment.

With that type of comment you should be careful calling someone daft.

No one can inhibit the importation of cars to Benin you either give them a reason to pay duty or excuse to not pay duty. No matter what problem we create for ourselves the world will go on south business