Nigeria Government  Slashes Import Duties On ‘Tokunboh’, New Vehicles

LAGOS JULY 7TH (NEWSRANGERS)-The Comptroller-General of the Nigeria Customs Service, NCS, Adewale Adeniyi, said yesterday the federal government has reduced the import tariffs on used vehicles from 15 per cent to five and on brand-new vehicles from 20 per cent to 10. Adeniyi spoke when he appeared before the House of Representatives Committee on Customs and…

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Prices Of ‘Tokunboh’ Vehicles Soar Over Freight, Clearing Charges, FOREX

LAGOS OCTOBER 7TH (NEWSRANGERS)-Prices of imported secondhand automobiles, popularly known as Tokunbo vehicles, have gone out of the reach of average income earners. The Guardian learnt that prices of Tokunbo and new cars in the country have tripled due to high clearing fees and processing, high duty, freight rate, security surcharges, insurance on Nigeria-bound cargoes,…

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