Automotive council laments $8b yearly import of used vehicles
The National Automotive Design and Development Council (NADDC) has vowed to put a stop to yearly importation of more than 400,000 used vehicles...
Fortunes lost to dormant automobile policy as vehicle smuggling thrives
The recent call for the downward review of tariff on all imported vehicles into the country by the Comptroller Genera, Nigeria Customs Service (NCS), Ahmeed Ali, has elicited divergent concerns from stakeholders. But they all point to the fact that Nigeria is losing fortunes to the imperfect system.
‘Why government’s vehicle financing scheme is not achievable’
The plan provides for a credit purchase scheme, to ensure that funds are available cheaply, and made available as loans to civil servants, haulage and passenger commercial companies, and the general public that patronise made in Nigeria vehicles.
Globe motors rolls out first Hyundai vehicle in Nigeria
Globe Motors has started the production of Hyundai and Higer brands of vehicles in its assembly plant in Lekki, Lagos. Located along the Eleko-Ibeju-Lekki area of Lagos, the plant for now has an installed capacity of 6,000 vehicles yearly, which the company said can also be increased depending on market forces. This automobile marketing company…
Kojo Motors launches Yutong buses in Nigeria
Kojo Motors Limited is setting an ambitious goal that will see the wholly Nigerian-owned company assemble different range of Yutong buses locally.
No to total ban on tokunbo vehicles,says government
The Federal Government will not totally ban the importation of fairly used vehicles (tokunbo) until a robust finance scheme is launched to enable Nigerians to buy brand new ones...
Elizade begins assemblage of JAC motors in Nigeria
Elizade Auto Land Ltd, authorised dealer of JAC Motors in Nigeria, on Wednesday started assemblage operation in Lagos to roll out 15, 000 vehicles yearly from Semi Knock Down (SKD) parts.
Nigeria’s auto sector shrinks amid uncertainty over economic slump, forex
To most players in Nigeria’s automotive sector, the decline in economic activities visible in real gross domestic product (GDP) contraction of - 2.24 per cent (year-on-year) in the third quarter ...
‘Auto review will address poor communication challenges’
“We are in discussion with both the Nigeria Customs Service (NCS) and the Ministry of Finance, to make sure that the tariff and the incentives we have are general.”