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The Federal Ministry of Finance, Budget and National Planning has approved implementation of the ECOWAS Common External Tariff (CET) 2022-2026 which provides for a slash in import duty of pickup vehicles to 10 per cent without payment of the controversial National Automotive Council (NAC) levy.
The circular obtained by Daily Sun dated April 8, 2022 signed by the Minister of Finance, Budget and National Planning, Dr Zainab Shamsuna Ahmed. was transmitted to the Comptroller General of Nigeria Customs Service, Col Hameed Ali. The Minister instructed that single and double cabin pickup vehicles under the heading of 87.04 should attract 10 per cent import duty with no levy, both old and new… More details through: https://www.sunnewsonline.com/fg-reduces-import-duty-on-hillux-vehicles-pickups-to-10/
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The Ministry of Power has developed an Electric Vehicle (EV) pilot project, with the financial support of the European Union (EU), the German Ministry for Economic Cooperation and Development (BMZ), within the framework of the Nigerian Energy Support Programme (NESP).
The feat was achieved at Gbamu-Gbamu, one of the mini-grid sites supported by NESP during its first phase, and has produced insights on the potentials of EVs in rural and peri-urban communities. At the unveiling of the Electric Vehicle Opportunities in Rural and Peri-urban Communities ceremony held in Lagos, the Acting Director the Renewable and Rural Power Access Department in the ministry, Mr. Abubakar Dapshima, said the relevance of the EV pilot project at the Gbamu-Gbamu solar mini-grid community cannot be over emphasised… More details through: https://thenationonlineng.net/nigeria-partners-eu-germany-to-develop-electric-vehicle/ Despite the automotive policy introduced by the Federal Government in 2013 to gradually phase out used cars, six countries have flooded Nigerian automobile market with $4 billion (N1.79 trillion) used motor vehicles and motorcycles in the last two years.
The vehicles are those that have failed safety, fuel economy and emission standards in the United States and Europe. They were imported from United States, Italy, Belgium, Netherlands, Brazil and Canada. Nigeria’s annual vehicle demand is estimated at 720,000 units, while local production is13,000 units. It was revealed that in 2021, the country took delivery of N785.73 billion used vehicles, including motorcycles, while N1 trillion worth of used vehicles were shipped into the country in 2020 through the Lagos roll-on roll- off port and other seaports terminals in the country in order to fill the supply shortfall… More details through: https://www.newtelegraphng.com/six-countries-dump-n1-7trn-used-vehicles-in-nigeria/ Stallion NMN Limited says it is planning to begin assembling of the new Nissan Navara pickup in Nigeria in June this year.
The General Manager, Stallion NMN Limited, Amit Sharna, made the disclosure in Lagos on Saturday during the launch of the all-new and most-advanced Nissan Navara pickup. Unveiled in its showroom with a test-drive, Nissan Navara, which comes in various sizes, promises to deliver an enhanced level of safety, comfort and driving pleasure, while continuing to bring the durability, reliability, and versatility that it is known for… More details through: https://punchng.com/nissan-set-to-assemble-navara-pickup-in-nigeria-june/ The Lagos State government has acquired two new high-speed trains for its Red Line rail project, as part of efforts to improve traffic management and transportation.
Mr Gboyega Akosile, who is the Chief Press Secretary to Governor Babajide Sanwo-Olu, disclosed this in a statement on Wednesday. He revealed that Governor Sanwo-Olu completed the acquisition deal of the two sets of 10 cars Talgo 330kmph trains on Tuesday at an event held inside the Milwaukee facilities of Spanish train manufacturer, Talgo Incorporated in the United States… More details through: https://www.channelstv.com/2022/01/19/lagos-govt-acquires-two-new-high-speed-trains/ As the country’s annual vehicle demand hits 720,000 units, Nigerians imported $1.90 billion (N786.91 billion) used vehicles through the seaports between January and September, 2021.
According to the United Nations Environment Programme (UNEP), most of the used vehicles were imported from the United States. Data by the Nigeria Customs Service (NCS), Port and Terminal Mult-sewrvice Limited Command between January and September 2021 revealed that a total of 171,491 units of vehicles were imported through Tin Can Island Port. The Command said that the figure was 74,130 higher than the 2020 imports of 97,361 vehicles… More details through: https://www.newtelegraphng.com/value-of-vehicle-import-into-nigeria-hits-n786-91bn-in-9m/ Nigeria Foreign Trade in Goods Statistics for Quarter Three, 2021has revealed that the country imported used vehicles worth $446m (N185.4bn).
The Statistician-General, Mr Simon Harry who disclosed this yesterday said Nigeria’s total merchandise trade rose to N13.3 trillion in Quarter Three of 2021, representing 10.43 per cent increase over N12.02 trillion recorded in Quarter Two. According to the recently released foreign trade report published by the National Bureau of Statistics, Nigeria spent a total of N601.51 billion on the importation of motor vehicles in the first half of the year… More details through: https://dailytrust.com/nigeria-imported-used-cars-worth-n185bn-in-q3-2021 The length of the Nigerian railway has increased by 712 kilometres in the past five years, according to a research by Afri-China Media Centre.
In a statement, Afri-China Media Centre said the China Civil Engineering Construction Corporation (CCECC) had within four years constructed four major railway projects covering a total stretch of about 703km. It said the railways projects like the Abuja Metro (37km); the Abuja-Kaduna railway (186km); the Ajaokuta-Itakpe-Warri (326km); the Lagos-Ibadan project (156km), with an extension of another 7km, has added to the country “a huge economic value… More details through: https://dailytrust.com/nigeria-records-712km-of-railway-in-5-years Austrian Technologies Nigeria, a natural gas-powered vehicle manufacturer, has disclosed details of its full range of ECO-Green buses, some of which the company says are already in Nigeria.
The vehicle maker said its buses were built with European standards for critical climate and infrastructure and targeted at private and public transport operators in Nigeria, including schools and corporate organisations. A statement from the Chief Executive Officer of Austrian Technologies Nigeria Limited, Johann Rieger, said the bus range was built on a single platform and comprised 8.5m length (Marcopolo size) for 60 passengers; 10.5m for 80 passengers, 12m for 100 people, 12.8m for 110 passengers and 18m accommodating 160 passengers… More details through: https://punchng.com/austrian-company-launches-eco-green-buses-in-nigeria/ Vehicles valued at no less than $4.4 billion (N1.8 trillion) were imported into Nigeria between October 2018 and September 2019, Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has said.
Zainab, represented by the Director, Technical Services, Hajiya Fatima Hayatu, stated this in Kano at a zonal sensitization programme on the National Vehicle Registry (VREG). Citing data by the National Bureau of Statistics (NBS), she also said between 2015 and 2020, Nigeria imported an average of 400,000 vehicles with eight per cent increase in import annually… More details through: https://dailytrust.com/nigeria-imports-n1-8tr-used-vehicles-in-12-months |
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