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Confusion persists as Customs confirms vehicle import duty now 20%

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Importers of new and used vehicles are now paying 20 per cent as duty to the coffers of the government, the Nigeria Customs Service has said.

The confirmation came on Monday after importers and clearing agents had cried out that they were still paying the old rate of 35 per cent as import duty even when the NCS had announced the slash.

In a statement signed by spokesman for the Customs, Timi Bomodi, the agency said that the 20 per cent duty was for both used and new imported vehicles.

In a statement signed by spokesman for the Customs, Timi Bomodi, the agency said that the 20 per cent duty is for both used and new imported vehicles.
The statement read in part, “On Friday, the 1st of April 2022, the Nigeria Customs Service migrated from the old version of the ECOWAS Common External Tariff (2017- 2021) to the new version (2022- 2026). This is in line with the World Customs Organisation (WCO) five years review of the nomenclature. The contracting parties are expected to adopt the review based on regional considerations and national economic policy.
“The nation has adopted all tariff lines with few adjustments in the extant CET. As allowed for in Annex II of the 2022-2026 CET edition, and in line with the Finance Act and the National Automotive policy, NCS has retained a duty rate of 20 per cent for used vehicles as was transmitted by ECOWAS with a NAC levy of 15 per cent. New vehicles will also pay a duty of 20 per cent with a NAC levy of 20 per cent as directed in the Federal Ministry of Finance letter ref. no. HMF BNP/NCS/CET/4/2022 of 7th April 2022.
“It is instructive to note that domestic fiscal policy on the importation of motor vehicles and other items is targeted at growing the local economy in these sectors. The focus of NCS is on the implementation of these policies in the hope that it achieves its desired objectives in line with the National Automotive Policy and other fiscal policies of the government.
“The NCS has also activated the use of Chapters 98 and 99 of the CET, in accordance with WCO recommendation for national use by contracting parties, which in our case promotes industrialisation through sectoral and sub-sectoral incentives for members targeted at economic growth, enhancement of security and minimized consumption of unwholesome goods.
“It should also be noted that the automotive industry, bonafide assemblers, manufacturers of auto spare parts and other local manufacturers enhance technology transfer and skill acquisition, create jobs and increase per capita income.
“In Chapter 98 of the current CET – bonafide assemblers importing Completely Knocked Down (CKD) and Semi Knocked Down (SKD) are to enjoy a concession of 0% and 10% duty rate respectively. While within ECOWAS, duty rate for the same items are five per cent and 10 per cent respectively.”
But the Federal Government in the draft 2020 Finance Bill had proposed a reduction in duties on tractors and vehicles for transportation of goods from 35 per cent to 10 per cent while the duties on vehicles for transportation of persons (cars) were reduced from 35 to five per cent.

This led to was an uproar from investors in the nation’s auto manufacturing sector.

Vice President Yemi dismissed the fear, saying the decision to slash duty on imported vehicles was not an attempt by the government to kill the nation’s automobile manufacturing industry but to reduce the cost of transportation in the face of growing economic challenges.

He also stressed that it was to meet the huge vehicle need of the country, put at an annual demand of 720,000 against 14,000 local production capacities.

 

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Chery relishes impactful presence at 2024 Lagos Trade Fair, says it’s a resounding success 

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Chery relishes impactful presence at 2024 Lagos trade fair, says it’s a resounding success 

 

Days after one of the biggest trade shows in Nigeria ended, talks about the spectacular displays, special products on offer and which companies did what at the 2024 Lagos International Trade Fair are still reverberating in the business industry in and around the nation’s commercial capital.

After staging one of the most outstanding displays at the fair, Carloha, sole representative of Chery vehicles in Nigeria, has declared that the 2024 Lagos International Trade Fair was a resounding success for Chery.

The fair held from November 1 to November 10 at Tafawa Balewa Square (TBS) in Lagos was attended by businesses from various sectors.

Chery made a commanding impression with a display of its array of vehicles that captivated attendees.

Chery’s lineup at the place featuring the Tiggo 8 Pro, Tiggo 4 Pro, Tiggo 2 Pro, and Arrizo 5 — easily became the highlight of the event, drawing admiration from automotive enthusiasts and industry experts alike.

Carloha Nigeria in its assessment of the show notes that the enthusiastic response from attendees reflected Chery’s alignment with the values of Nigerian consumers: durability, efficiency and style.

Indeed, it says the presence of Chery at the fair reinforced the brand’s status as a leader in innovative and high-quality vehicles.

“Chery’s presence at the fair signals its commitment to supporting Nigeria’s automotive industry growth,” it states, adding that the brand looks forward to continuing its journey with Nigerians seeking reliable and stylish vehicles that elevate their everyday driving experience.

Chery showcased the unique strengths and aesthetics of each of its models, with the Tiggo 8 Pro taking centre stage.

Tiggo 8 Pro

Known for its luxurious design and cutting-edge technology, the Tiggo 8 Pro made a lasting impact on attendees looking for a blend of sophistication and performance in an SUV.

Auto enthusiasts and prospective buyers were particularly captivated by the model’s spacious interior, high-quality finishes, and suite of intelligent features, which align with Chery’s reputation for engineering excellence.

Tiggo 4

For those interested in compact SUVs with versatility and style, the Tiggo 4 Pro was an instant hit.

Its sleek design, fuel efficiency, and advanced safety features resonated with visitors seeking a reliable yet stylish vehicle for urban and adventurous lifestyles alike.

The Tiggo 4 Pro’s appeal lies in its balance of form and function, and this resonated with young professionals, families, and automotive aficionados who stopped by Chery’s exhibit for a closer look.

Tiggo 2 Pro

The Tiggo 2 Pro also attracted significant attention at the fair.

Known as a stylish, compact SUV with a bold, urban design, the Tiggo 2 Pro struck a chord with those looking for a vehicle that combines affordability with aesthetic appeal and performance.

Its smaller size, combined with a powerful engine, makes it an ideal choice for city driving, and visitors were impressed by its efficient fuel consumption and user-friendly tech features, making it a perfect fit for Nigeria’s dynamic city life.

Arrizo 5

Arrizo 5, Chery’s stylish sedan that combines efficiency with cutting-edge technology, was part of the impressive lineup.

Many attendees were taken aback by the Arrizo 5’s seamless integration of petrol and CNG technology.

This appeals to those looking for sustainable and budget-friendly commuting options.

The sedan’s advanced safety features, plush interiors, and fuel efficiency made it a strong contender for those prioritizing both style and sustainability in a vehicle.

This year’s Lagos International Trade Fair saw an unprecedented turnout, with thousands of visitors exploring the diverse offerings from local and international brands.

Chery’s display not only highlighted the brand’s innovative automotive designs but also underscored its commitment to Nigeria’s automotive market.

The foot traffic at the Chery stand was a testament to the brand’s growing appeal, as well as Nigeria’s evolving automotive landscape, where demand for high-quality, dependable vehicles continues to rise.

Engagement with visitors

Beyond showcasing vehicles, Chery’s team engaged with visitors to explain the unique benefits of each model and answer questions.

This helped create a personal and informative experience for everyone who stopped by.

From live demonstrations to interactive sessions, Chery provided an immersive experience that helped attendeesj job understand the full scope of features each model offers, strengthening the brand’s connection with potential customers and automotive enthusiasts.

Carloha’s Sales Director, Mr. Joseph Omokhapue, says to make Chery ownership easy and affordable, highlighted their exclusive offers: a 6-year free service plan, 6-year/200,000 km warranty, and flexible auto financing options.

“These benefits are at the core of Carloha’s commitment,” he said, adding, “With fair pricing, nationwide 24/7 parts and service support, our customers can enjoy their Chery vehicles with complete peace of mind.”

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Toyota by CFAO surprises customers with free Hilux, motorcycles, all-expense-paid trip to Seychelles

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Toyota by CFAO surprises customers with free Hilux, motorcycles, all-expense-paid trip to Seychelles

 

Buyers of brand new Toyota vehicles in Nigeria from Toyota by CFAO at this period are up for unprecedented pleasant gifts as part of the company’s end of the year package.
Toyota by CFAO, an official distributor of Toyota vehicles in Nigeria, in a statement announced the exciting end-of-year bonanza to reward both new and existing customers.

It listed the prizes on offer as free Toyota Hilux pickups, Yamaha motorcycles, and an all-expense-paid trip to Seychelles.

The promotion, it says, is open to corporate and individual clients.

It specifically states that the End-of-Year Bonanza features four main categories of rewards: Buy 5 units of the Toyota Coaster bus and receive a free Toyota Hilux pickup; or Buy 15 units of either the Toyota Hiace Mid Roof or Toyota Hilux Prerunner and get a Toyota Hilux pickup at no additional cost.

The second category is the offer of a Free Yamaha Motorcycle, in which a buyer automatically receives a Yamaha motorcycle for free on the Purchase a Toyota Hilux, running on diesel.

For the third category, the company is sponsoring an All-Expense-Paid Trip to the Seychelles for those who purchase any of the following Toyota models: Toyota Land Cruiser Prado, Toyota Land Cruiser 300, Toyota Fortuner, or Toyota Camry.

In the last category, customers will win a return ticket to the Seychelles for the Purchase a Toyota Corolla Cross or Toyota RAV4.

To participate, it says customers simply need to visit the Toyota by CFAO website at www.toyotabycfao.ng and follow the registration process.

The company says since the promotion is valid while stocks last, it advises early participation.

It says, “All the Toyota products offered as prizes are renowned models.

“The Toyota Hilux, which is known for its strength and durability, boasts advanced chassis and bodywork, making it the ultimate choice for tough tasks, with more than 50 years of proven power.”

The Toyota Hiace is a versatile vehicle with a 2.7L engine, perfect for both cargo and passenger transport in urban and rural areas; while the Toyota Coaster which is ideal for group travel, offers a spacious cabin and reliable transport for passengers with capacities of 2.7L or 4.2L.

Toyota by CFAO says the promotion, which kicked off on November 1, 2024, provides a unique opportunity for customers to drive away with top-quality Toyota vehicles and win exclusive prizes.

Managing Director of Toyota by CFAO, Mr. Boye Ajayi, stresses the company’s dedication to providing high-quality, tropicalized Toyota vehicles and superior after-sales service.

He encourages Nigerian car buyers to take advantage of the promotion as a way to acquire vehicles designed for the country’s specific needs.

“We are proud to offer Toyota vehicles built specifically for the Nigerian market. Our range includes city cars, sedans, family vehicles, SUVs, pickups, and light commercial models.

“Toyota vehicles are recognized worldwide for their safety, fuel efficiency, and cutting-edge technology, and they come with a 3-year warranty for added peace of mind,” says Ajayi.

The company says it remains committed to offering a wide selection of vehicles designed for both urban and rural environments, backed by exceptional after-sales service.

“Toyota by CFAO is dedicated to ensuring customer satisfaction and delivering high-quality products for Nigerian drivers,” it adds.

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NAJA okays December 11 for 2024 Nigeria Auto Awards 

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NAJA okays December 11 for 2024 Nigeria Auto Awards 

The Nigerian Auto Journalists Association (NAJA) has fixed December 11, 2024 for this year’s Nigeria Auto Awards holding at the renowned Oriental Hotels, Victoria Island, Lagos.

The event starting at 6pm, with invited guests coming from across the country’s automotive industry, including manufacturers, assemblers, dealers and automobile components/parts producers as well as influencers.

The NAJA Auto Awards is a key event in Nigeria’s automotive calendar, celebrating the best vehicles, innovations, and industry figures that have shaped the current year.

The award event will honour exceptional achievements in design, technology, sustainability, and overall impact in the sector.

In a statement, NAJA highlighted that the awards are the result of months of thorough planning and collaboration with industry experts, ensuring the event remains a credible platform for recognizing leaders in Nigeria’s fast-evolving automotive landscape.

Chairman of the 2024 Auto Awards Committee, Theodore Opara, emphasized that the timing of this year’s ceremony is especially significant as the industry is experiencing a rapid transformation, particularly in the areas of electric vehicles (EVs), compressed natural gas (CNG)-powered vehicles, and eco-friendly vehicle technology.

“We’re incredibly excited to gather Nigeria’s top automotive minds and brands on December 11 to recognize the vehicles and individuals who have truly made an impact,” Opara said.

“This year’s awards will reflect the shifting dynamics of the industry, particularly with the growing importance of electric and sustainable mobility solutions. Our aim is to shine a spotlight on the innovations that are driving Nigeria’s automotive sector into the future.”

The NAJA Auto Awards will feature a variety of competitive categories, such as Car of the Year, Truck of the Year, Best New Electric Vehicle, Luxury Brand of the Year, and Best Auto Tech Innovation.

Other categories will recognize standout achievements in vehicle design, safety, and sustainability.

Opara also pointed out that the selection process for the awards would be rigorous, with a panel of expert judges, including NAJA’s network of experienced automotive journalists, evaluating each nominee across several criteria, such as performance, innovation, environmental impact, and technological advancement.

Mike Ochonma, Chairman of NAJA, emphasized the dramatic shifts occurring within the industry.

“The automotive world is changing at an unprecedented pace. From the rise of electric powertrains to CNG-powered vehicles, the 2024 awards will highlight the most forward-thinking products that are leading the change in shaping the future of mobility in Nigeria,” said Ochonma.

“We’re committed to ensuring that the awards recognize the true pioneers—those companies and vehicles pushing boundaries and setting new benchmarks.”

The event promises to be an evening of celebration, with special presentations and a showcase of some of the most notable nominees.

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