The Federal Government is set to increase import duty on second-hand cars by another 35% from Thursday January 1, 2015 in fulfillment of its so-called National Automotive Policy. This increase is the second phase after it increased by 35% in February 2014. This now brings the tariff to 70% in a little under one year for poor Nigerians who cannot afford to buy brand new cars
http://www.punchng.com/news/tokunbo-cars-to-cost-more-from-january-1/
http://nairametrics.com/new-year-gift-from-this-govt-import-duty-on-tokunbo-cars-to-increase-by-70-jan-1st/?utm_source=&utm_medium=twitter
Basically, import duty on tokunbo cars will double. The direct result is a significant increase in the prices of cars. I hope the gov't doesn't go ahead with this new duty regime.
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