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FG To Slash Levy On Imported Cars To 5% From 35% - Car Talk (6) - Nairaland

Nairaland Forum / Nairaland / General / Car Talk / FG To Slash Levy On Imported Cars To 5% From 35% (51216 Views)

N1000 Vehicle Proof Of Ownership: Nigerians Reject Newly Imposed Levy / China Begins Export Of Second Hand Cars To Nigeria / Automobile Workers Kick Against FG Move To Slash Vehicles Duty To 10% (2) (3) (4)

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Re: FG To Slash Levy On Imported Cars To 5% From 35% by Kingv(m): 1:43pm On Nov 22, 2020
Arizona1:

Moderators of Nairaland, You people support hatred and promote tribalism here. If not I don't see the reason why someone that posted something like this should not be banned and this post removed.

Useless forum that promotes hate. I hate this platform because of this

3 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by OLATT21: 1:43pm On Nov 22, 2020
seems they are now getting sense.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by dominic17: 1:46pm On Nov 22, 2020
This policy actually favours the poor mass but it amounts to policy inconsistencies which will send a bad signal to foreign investors. Can you imagine few years ago the government was campaigning for local automobile production some companies capitalized on it to invest in car assembly plant in Nigeria some companies may even borrow money to invest .all of the sudden, the government reversed its policy. things like discourages foreign investors.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by edoairways: 1:46pm On Nov 22, 2020
Aufbauh:
Good way to go, but if you ask me I'll say it's long overdue.

Some of these stringent policies need to be free up cus it has multiplier effect on job creation and economic prosperity.
This has been the undoing of the present administration. Locking up route completely without creating a sustainable viable alternative.
Job creation at the expense of infant industries?

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by edoairways: 1:47pm On Nov 22, 2020
dominic17:
This policy actually favours the poor mass but it amounts to policy inconsistencies which will send a bad signal to foreign investors. Can you imagine few years ago the government was campaigning for local automobile production some companies capitalized on it to invest in car assembly plant in Nigeria some companies may even borrow money to invest .all of the sudden, the government reversed its policy. things like discourages foreign investors.
This government is clueless.

3 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by abdusalam7474: 1:47pm On Nov 22, 2020
I am in support of the policy because I believe it isn't directed at Innosun. infact, the present administration has been very supportive from the start.
Though it is likely to affect the company, the main objective of FG is to ramp up revenue. However, the glitch here is that they haven't considered "yet" cushioning the effect of the policy reversal on local car manufacturing industries. This could be done by increase government patronage of local industries, tax holidays, or leaving the policy in place on a portion of the market where local companies compete heavily with importation.

http://Jimshub..com

2 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by fydence: 1:47pm On Nov 22, 2020
Acjohn:
An evidence that Buhari government is confused. Policy instability is one of the things that drives away investors. It was supposed to be time for Igbo man like innoson but because hr is not a northerner, let the policy be changed to disfavor him. What happened to the automotive policy of Nigeria?

As I dey like this now, I don't know where we are headed economically, NNPC have changed from oil producer to oil importer. Resources in the north is for the people that in the south is for the government, Ipob are terrorist while Fulani herdsmen and BH are misunderstood people that government needs to negotiate with.

I won't be surprised if its a northerner that was given a contract and had to lobby for this to be lifted so that he can make good gains, after that government will reverse the policy again.

God help us from this circular motion.
Oga make we hear word...

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Incrizz(f): 1:49pm On Nov 22, 2020
ogododo:


https://www.thecable.ng/no-more-35-fg-to-slash-levy-on-imported-cars-to-5/amp

GOD bless the FG for this policy.
Kindly implement it quick.
Cost of transportation, and not just fuel, is the major factor affecting food prices.

Innoson Motors are just too expensive.
How many people can afford it??

In order to protect just one car manufacturer or two, in the whole of the Country, millions have been made to suffer.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Turantula(m): 1:49pm On Nov 22, 2020
wake me when Dangote starts building indigenous cars
Re: FG To Slash Levy On Imported Cars To 5% From 35% by odimbannamdi(m): 1:50pm On Nov 22, 2020
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.


Even though your opening paragraph had a lot of needless vile, you managed to make good sense, overall. Innoson should consider the workability of your perspective. Weldone

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by codesport(m): 1:50pm On Nov 22, 2020
omenka:
It is TARGETED AT IGBOS please. I don't have the strength to engage in a nonsensical argument.

You guys should believe what you wanna believe and assume what you wanna assume. That is your right and your business.

Bye.
don't mind him, always portraying the rice policy as northern thing, forgetting hardworking rice farmers of Ebonyi state are also benefitting from such policy.

4 Likes 2 Shares

Re: FG To Slash Levy On Imported Cars To 5% From 35% by tyup(m): 1:51pm On Nov 22, 2020
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.

Amen....Igbos will so wreck this country

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Simbrixton(m): 1:52pm On Nov 22, 2020
bignero:


No

Your just plain stupid.. Have you ever heard or seen this govt make any policy that brings competitors to dangotes business.. Isnt it dangote who was exempted from border closure..

The hausa hate igbo and cant hide it its fine.. I like buhari for something he doesn't hide it.. Igbos dislike the north opressor.. You yorubers? Cowards and ntimidated.. No direction. Without igbo resistance your fulani masters wll theyd wipe you all
most importers and middlemen are igbos too
Re: FG To Slash Levy On Imported Cars To 5% From 35% by nograv: 1:52pm On Nov 22, 2020
omenka:
It is TARGETED AT IGBOS please. I don't have the strength to engage in a nonsensical argument.

You guys should believe what you wanna believe and assume what you wanna assume. That is your right and your business.

Bye.

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..

5 Likes 2 Shares

Re: FG To Slash Levy On Imported Cars To 5% From 35% by odimbannamdi(m): 1:56pm On Nov 22, 2020
ivolt:
Foolish and regressive policy. Everyone knows that fuel price is responsible for high transportation costs and not import duties. If fuel price is slashed today, the effect will be immediate unlike the duty reduction whose effects is dubious.

I also wondered how import duty reduction will correspondingly reduce transportation costs. Do these guys even reason at all What about the road congestion, strain on road infrastructure and pollution that would result when the whole place gets flooded with cars. Surprising!
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Greenback: 1:56pm On Nov 22, 2020
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.


U sound like a ....@40...na joke o
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Elsueno: 1:57pm On Nov 22, 2020
Acjohn:
An evidence that Buhari government is confused. Policy instability is one of the things that drives away investors. It was supposed to be time for Igbo man like innoson but because hr is not a northerner, let the policy be changed to disfavor him. What happened to the automotive policy of Nigeria?

As I dey like this now, I don't know where we are headed economically, NNPC have changed from oil producer to oil importer. Resources in the north is for the people that in the south is for the government, Ipob are terrorist while Fulani herdsmen and BH are misunderstood people that government needs to negotiate with.

I won't be surprised if its a northerner that was given a contract and had to lobby for this to be lifted so that he can make good gains, after that government will reverse the policy again.

God help us from this circular motion.

Thank you my brother, that's what I have being saying, these people are freaking confused. THEY JUST wake UP ONE DAY AND CHANGE POLICIES.
They just can't make up thier minds, today they say A, Tomorrow they say Z. That's a turn off for investors both foreign and local.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by SocialJustice: 2:00pm On Nov 22, 2020
Please open the borders.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Bigchristo: 2:00pm On Nov 22, 2020
Yenefer:
Sai Baba. Buhari havr to rebuild Nigeria all over again after years of PDP destruction.
Innoson motors? Who cares. We don't
You’re still dwelling in this shit blame game? Who increased the landing bills and import duties? The same government that is reducing it so what’s your point in politicizing this?
Re: FG To Slash Levy On Imported Cars To 5% From 35% by omenka(m): 2:01pm On Nov 22, 2020
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..
Oga o!!! Even the comment you quoted, I CLEARLY STATED that I accept you peoples opinion that the policy is TARGETED AT INNOSON.

So what are you still doing mentioning me with this bullocks? Isn't my acceptance of you people's opinion about it good enough for you? You want me to disagree?

One agrees with you lot, it is a problem, one doesn't, it is still a problem.

I think this has gone beyond normalcy. Y'all got serious mental issues.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Greenback: 2:01pm On Nov 22, 2020
omenka:
If these same people are given 5 million for instance, to buy a freshly made Innoson or a tokumbo Toyota, they'd go for the Toyota, YET, the policy is aimed at an Igbo businessman.

It is just hopelessly tiring arguing with these guys.

Your problem is that,you keep thinking that you are talking..
Re: FG To Slash Levy On Imported Cars To 5% From 35% by omenka(m): 2:03pm On Nov 22, 2020
Greenback:


Your problem is that,you keep thinking that you are talking..
Your problem is that you find it difficult ignoring someone you think isn't talking.

What do you call that sort of problem? Think it borders on one's mental status.

I sincerely hope you find a solution to that soon.

Bye.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by birdgo: 2:07pm On Nov 22, 2020
omenka:
Na wa ooooo!!!

We complain everyday about how difficult it is doing business due to the burden of tax, duties and levies imposed by the government. Now they say they wanna slash levy and someone thinks IT IS TARGETED AT INNOSON.

Isn't this a normal economic incentive deployed by governments around the world to help boost commerce and stimulate the economy? Why do we always have to bring everything down to tribe and religion in this country?

How do you people's minds work exactly. Gosh! embarassed

This government is the most nepotic and tribalistic in the history of the country. So I won't really blame anyone for such reasoning giving all that has happened and still happening in governance. That is the mindset this government has imposed on most citizens.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by pacespot(m): 2:07pm On Nov 22, 2020
Rugaria:

This policy will be popular with the people because everyone wants to buy new cars, but in the long run, it will prove damaging to the economy..

They say those vehicles whose tarrifs will be slashed are for haulage, how is that damaging to the country? Those buying fancy cars can still continue to patronise innoson and the likes. Nothing can be more damaging than the current economic situation we are in. And mind you, Nigerians are not Europeans that tarrifs will affect their business so much, they will also find a way to circumvent it.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Greenback: 2:08pm On Nov 22, 2020
omenka:
Your problem is that you find it difficult ignoring someone you think isn't talking.

What do you call that sort of problem? Think it borders on one's mental status.

I sincerely hope you find a solution to that soon.

Bye.
FqOFF
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Greenback: 2:09pm On Nov 22, 2020
[s]
omenka:
Oga o!!! Even the comment you quoted, I CLEARLY STATED that I accept you peoples opinion that the policy is TARGETED AT INNOSON.

So what are you still doing mentioning me with this bullocks? Isn't my acceptance of you people's opinion about it good enough for you? You want me to disagree?

One agrees with you lot, it is a problem, one doesn't, it is still a problem.

I think this has gone beyond normalcy. Y'all got serious mental [/s] .

Nograv ....save your breath,its no use.... These peeps got a fixated mindset already.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nobody: 2:10pm On Nov 22, 2020
Igbos have really suffered and the most persecuted on earth.

Just because of this little Innoson company.
All is well
Re: FG To Slash Levy On Imported Cars To 5% From 35% by SavageMaster: 2:12pm On Nov 22, 2020
Coolcalmcollect:

idiot when importation was high how many innoson your papa buy?

It's because of kids like you that reasonable people hardly comment on Nairaland these days. Read my statement and see who I addressed it to; he has already responded, and we're good.

Nonsense!!!
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nchenches: 2:12pm On Nov 22, 2020
How about bringing down the artificial price of cement in Nigeria?


Buhari must have slowed down the south a lot to his satisfaction with the hike in price of cement immediately after he became president.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Queenoffucks(f): 2:16pm On Nov 22, 2020
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're just empirically daft and useless as they fvcking come.









Fvck off





Queenoffucks

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