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Nigerian businesses deserve tax rebate – Nnazor, CEO, Ken-Benz Auto

Published

5 years ago

March 19, 2022

Chikelu Luke Nnazor is the Vice President of Berger Business Community in Lagos and Managing Director/Chief Executive Officer of Ken-Benz Auto Limited. He spoke with Dada Jackson on the impact of the fluctuating exchange rate on business, among other topical issues

What exactly do you do at Berger Suya Heavy Trucks Spare Parts Market?

We sell spare parts mainly for heavy duty trucks and marine equipment. In addition, at the Berger Suya market, we don’t sell spare parts meant for saloon cars or SUVs but only for heavy duty vehicles. Some people have asked me if we sell Suya (roasted meat) and I tell them emphatically that we do not sell such things here. Also, the difference between us and those at the Ladipo spare parts market is essentially in the weight of the kind of spare parts we sell here.

Why did you choose to go into the sale of heavy duty vehicle spare parts and not the saloon or luxury cars?

Let me say that it runs in the family. For instance, you would see a doctor, lawyer, or engineer whose children take after them Even some military men want their children to be soldiers. But to answer your question directly, one of my relations introduced me to the business. It might interest you to know that for you to learn the business, you would spend at least seven years. Another interesting thing about learning this business is that any body who is interested in learning this business must have passion for it. It is not about the amount of money you have but the knowledge you have for the business. Also, it requires little or no capital. Even if you don’t have money, you can go into the business and before you know it, you’ve hit it big. Let me make abundantly clear here that if you don’t have the faintest knowledge of the business and you think because you have money and you dabble into it, you may get your fingers burnt.

What are the challenges that you face in doing this business?

As far as life is concerned, we can’t do without having one form of challenge or the other but what matters is our ability to overcome these challenges. It is important to point out here that any man who in the journey of life has not encountered any challenge should reexamine his lifestyle. In a nutshell, we have challenges confronting us in the course of our business but they are no doubt surmountable. Let me mention here that the major challenge for me is betrayal. How do I mean? A situation where you entrust someone with your goods and such an individual now shortchanges you or refuses to release such goods to you. What more could be a betrayal than this. There are so many challenges but as for me, I put my trust in God; incidentally, that’s our company’s motto.

How has the exchange rate affected your doing business?

Let me say unequivocally that the fluctuating exchange rate has affected our business negatively to the extent that most times we run at a considerable loss. For example, if the rate of the Naira to the Dollar is N450-$1 and you now place your order, by the time the goods arrive in the country and the rate has gone up, tell me what wound be the profit margin; absolutely nothing because what such an individual would be thinking of is how to recoup his money and not about making any profit. The exchange rate of the naira to the dollar is very high and this has slowed down our business activities. In a nutshell, it has done more harm than good to our business. I appeal to government to cushion the effect by giving us tax rebate.

Related Topics:businesses Exchange rate Interview

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NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Jobs

Published

36 minutes ago

September 21, 2026

Trends Admin

NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Job

The National Automotive Design and Development Council has called for far-reaching reforms in vehicle financing to make car ownership more affordable while boosting local vehicle assembly, job creation and industrial development.

The Council said a properly structured financing system could turn vehicle credit from a mere consumer lending product into a major economic tool for expanding productive mobility and strengthening Nigeria’s automotive value chain.

Director-General of NADDC, Otunba Joseph Oluwemimo Osanipin, stated this in an address delivered on his behalf by the Council’s Principal Information Officer, Tanko Kyumnom, at the Lagos Chamber of Commerce and Industry (LCCI) Auto Sectoral Group Symposium in Lagos.

The symposium, held on Thursday, September 17, 2026, at the Henry Fajemirokun Hall of LCCI, was themed: “From Subsidy to Credit: Can Vehicle Financing Replace Fuel Subsidy as Nigeria’s Mobility Equaliser?”
Osanipin said the growing cost of mobility had made it necessary to explore financing models that would enable individuals, businesses and transport operators to acquire vehicles without bearing the full cost of ownership upfront.

According to him, spreading vehicle payments over an agreed period could provide a more sustainable pathway to vehicle acquisition, provided that the financing products are affordable, accessible and structured around the economic realities of Nigerian consumers.

He, however, cautioned that simply making credit available would not be enough.
“Vehicle financing offers a more sustainable approach by enabling individuals, businesses and transport operators to acquire vehicles and pay for them over time,” Osanipin stated.
The NADDC DG said the bigger opportunity lies in linking vehicle financing with the growth of locally assembled and Nigerian-made vehicles.

He explained that increased access to credit for locally produced vehicles could generate wider economic benefits by stimulating demand for domestic assembly, supporting component manufacturers, creating jobs and strengthening local supply chains.

Osanipin therefore urged stronger collaboration among government institutions, financial institutions, vehicle manufacturers and other stakeholders in designing financing schemes capable of supporting both mobility access and automotive industrialisation.

The NADDC boss identified affordable vehicle loans, leasing arrangements, fleet financing, credit guarantees and appropriate interest-rate support as mechanisms that could broaden access to vehicle ownership and productive mobility.

lt also stressed the need for repayment structures that take into account the earning patterns and business realities of Nigerians, particularly transport operators and small businesses whose vehicles are directly linked to their income-generating activities.

Osanipin maintained that the objective should extend beyond increasing the number of vehicles on Nigerian roads.
“The goal is not simply to put more vehicles on Nigerian roads. It is to ensure that Nigerians can access productive mobility without placing an unsustainable burden on government finances or household incomes,” he said.

According to him, a properly structured automotive financing system could create a stronger connection between mobility, economic inclusion and domestic vehicle production.

“With the right policies and partnerships, vehicle financing can become a powerful instrument for mobility, economic inclusion and automotive industrial development,” Osanipin added.

The NADDC’s position places vehicle financing within the broader effort to build a sustainable automotive ecosystem in Nigeria—one in which access to credit supports vehicle users while also creating stronger demand for local assembly, components and associated automotive services.

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Jetour T1 Storms Abuja as Automaker Accelerates Nigeria Expansion

Published

5 hours ago

September 21, 2026

Trends Admin

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

Following a successful debut in Lagos, Jetour Nigeria will host the Jetour Experience Abuja from September 22 to 24, 2026, positioning its all-new T1 model as a major competitor in the country’s growing adventure SUV market.

The three-day event in the Federal Capital Territory will give prospective buyers and motoring enthusiasts direct access to product demonstrations, expert-led technical sessions, and hands-on test drives.

“Strong participation, extensive test drives, and significant sales enquiries at the Lagos edition, coupled with growing demand from Abuja residents, influenced the decision to bring the experience to the nation’s capital,” the company said in a statement. The show holds at Maha Event Centre, Area 8, Garki.

To support its growing national footprint, Jetour Nigeria has established a network of seven accredited dealers: Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R.T. Briscoe Motors, and Mandilas Autos. The partnerships cover retail sales, genuine spare parts supply, and comprehensive after-sales maintenance.

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

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Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Published

1 day ago

September 20, 2026

Trends Admin

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Jetour Nigeria is taking its seven-seater X70 Plus SUV to Abuja as rising interest from motorists in the Federal Capital Territory and neighbouring states fuels the brand’s latest push to deepen its presence across Nigeria.

The X70 Plus will headline the Jetour Experience Abuja, holding from September 22 to 24 at Maha Event Centre, Area 8, Garki, following the strong response recorded during the Lagos edition, where motorists turned out for test drives and made enquiries about Jetour models.

The Abuja activation is designed to give prospective buyers direct access to the X70 Plus and other models, with opportunities to test-drive the vehicles, engage product specialists and experience their technology, safety and comfort features.

The X70 Plus is positioned as a family-oriented SUV, offering seven-seat capacity and a range of features targeted at customers seeking comfort, technology and practicality.

The SUV is available with 1.5-litre and 1.6-litre turbocharged engine options, with outputs of up to 145kW and 290Nm of torque, paired with a dual-clutch automatic transmission.