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Prices of vehicles may go up as Nigeria bans importation

Tin can island, shipping, Import, Export1

Importation of vehicles through Tin Can port, Lagos

 

Prices of vehicles might go up further as the Nigerian government has banned the importation of vehicles through the land borders.

“The prohibition order covers all new and used vehicles, according to a statement by the Public Relations Officer of Nigeria Customs Service, Wale Adeniyi.

Adeniyi said, “The ban is sequel to a Presidential Directive restricting all vehicle imports to Nigeria Sea Ports only. The order takes effect from 1st January 2017,

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“The restriction on importation of vehicles follows that of Rice, whose imports have been banned through the land borders since April 2016.

“Importers of vehicles through the land borders are requested to utilise the grace up till 31st December 2016 to clear their vehicle imports landed in neighbouring ports,” he said.

Prices of vehicles had increased considerably in the past ten months as a result of foreign exchange policy which made dollars to be very scarce and unavailable to importers.

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Importation of vehicles through Cotonou borders had been rampant because importers often negotiated their way through corrupt Customs Officials  by paying little or  not paying duties while others  smuggle vehicles through borders without paying duties.

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