Car Dealer Harps On Tariff Review

A dealer on fairly
used vehicles popularly called ‘Tokumbo’ Mr Ajayi Olufemi has called on the Federal Government to review its automobile policy and also reduce duty payable on such category of the vehicles.
Olufemi made the call during a chat with The Tide in Port Harcourt on Monday.
He said the unstable policies on vehicle importation had witnessed drop in revenue generation to the Federal Government, stressing that efforts should be made to improve the revenue drive.
The dealer said there is need for the government to look inward and review the tariff on vehicles imported into the country.
According to him, the present federal government under President Muhammadu Buhari should put ncesary apparatus in place to encourage the importation of used vehicles, pointing out that Nigeria is not ripe to assembly cars now.
Olufemi further noted that the importers paid a duty of 35 per cent while the levy had been suspended, but due to its effect on the importers, they are appealing to the Federal Government to reduce the duty so as to allow most of them to be in the business. He disclosed that the duty payable on imported vehicles had discouraged importers of used vehicles and other car dealers, saying that a large number of car dealers are about to abandoned the business while some have already left it due to the restrictions placed by the government over the auto policy.