Tag Archives: Nigerian auto industry
Nigerian auto industry: Latest News
Staff, 5:36 pm
Poor power supply is partly to blame for the Nigerian government’s inability to build a robust auto industry. That leaves vehicle imports as one of the only ways to meet local demand. Nigeria’s auto market is worth over $4 billion a year, but it does not translate into anything meaningful, a stakeholder said. Starting in 2015, stiff new tariffs were levied on new and used Nigerian vehicle imports. Imports fell more than 50 percent.
Staff, 1:55 am
The United States Embassy in Abuja says President Muhammadu Buhari’s recent visit to the U.S. has triggered a flood of enquiries from potential American investors on the country’s automotive industry. The embassy’s Counsellor for Economic Affairs, Mr. Alan Tousignant, said this when he visited the Director-General of the National Automotive Design and Development Council (NADDC) on Friday in Abuja.
Ann Brown, 10:00 am
Under a proposal concerning vehicle acquisition finance in Nigeria, people will be able to buy in credit, new cars assembled in the country. This comes after a major increase in the import duty of used cars from 35 to 70 percent by the government in order to discourage importation of second hand cars and encourage […]
- Real Estate