Nigeria, U.S. Used Vehicles’ Trade Hits $1.15bn

As the high import tariff regime aimed at discouraging imports and spurring local assembly failed to achieve its purpose, 500,000 units of used vehicles valued at N575billion ($1.15billion) have been ferried to Nigeria in one year.
 
The amount is 14.37 per cent of the $8billion spent on the importation of used vehicles into the country annually. This is coming as two terminals at Tin Can Island Port- Five Stars Logistics and Port and Terminal Multi-services Limited (PTML)-are expected to take delivery of 550 units of used vehicles this week…
 
More details through:
https://www.newtelegraphng.com/nigeria-u-s-used-vehicles-trade-hits-n575bn/