Faily-Used Cars To Cost More From 1st January 2015

The Federal government of Nigeria following the introduction of the National automotive policy will be implementing the second of phase of the increase of import duty on fairly used cars, which may cause a dramatic increase in the prices of Tokunboh cars as from January 1st 2015.


The policy which was announced in November 2013 was designed to encourage local assembly of vehicles, had the first phase coming into effect in February 2014 with the payment of 35% import duty. 

The second phase  of the policy was expected to start on July 1st this year but was pushed to come into effect on January 1st 2015.

Car importers are now to pay the full import duty of 70%