Even as the countdown to the commencement of the new automotive policy begins, the Nigeria Customs Service has clarified that, Government has not banned importation of used vehicles.
The Public Relations Officer of the Service; Mr Wale Adeniyi said yesterday that the proposed new tariff was meant to discourage the importation of second-hand vehicles, otherwise known as ``Tokunbo”, while encouraging local manufacturers through the proposed tariff.
He said ``the importation of second-hand vehicles otherwise known as Tokunbo has not been prohibited yet.
``The proposed automotive policy seeks to encourage the growth of the local industries by discouraging the importation of tokunbo vehicles through high protectionist tariff rates.’’
The customs spokesperson said the implementation of the new tariff was yet to commence, as the service had to wait for the February 28 deadline, as given by the Federal Government.
He said that importers who opened their letter of credit for the vehicles before Oct. 3, 2013 could still clear imported vehicles at the old rates until Feb. 28, 2014.
The Public Relations Officer of the Service; Mr Wale Adeniyi said yesterday that the proposed new tariff was meant to discourage the importation of second-hand vehicles, otherwise known as ``Tokunbo”, while encouraging local manufacturers through the proposed tariff.
He said ``the importation of second-hand vehicles otherwise known as Tokunbo has not been prohibited yet.
``The proposed automotive policy seeks to encourage the growth of the local industries by discouraging the importation of tokunbo vehicles through high protectionist tariff rates.’’
The customs spokesperson said the implementation of the new tariff was yet to commence, as the service had to wait for the February 28 deadline, as given by the Federal Government.
He said that importers who opened their letter of credit for the vehicles before Oct. 3, 2013 could still clear imported vehicles at the old rates until Feb. 28, 2014.