Auto
Customs begin implementation of 30% duty waiver on passenger vehicles
The Nigeria Customs Service has commenced the implementation of a 30 per cent import duty waiver of passenger transport vehicles, despite criticism by indigenous automakers that the policy may put them out of business and lead to massive job losses.
Already a circular directing the NCS to begin the implementation and conveying President Muhammadu Bahari’s approval has been issued and is circulated across various commands and units of the agency nationwide.
The import duty reprieve covers aviation engines and spare parts and takes immediate effect.
The Presidential directive was conveyed through a circular from the headquarters of the Nigeria Customs Service (NCS) in Abuja.
It said the reduction followed the decision to prune applicable levies and duties on vehicles to mitigate rising transport costs and boost the mass transit industry.
The Deputy Comptroller-General, Trade and Tariff (T&T), T.M. Isa, signed the circular dated February 18 on behalf of the Comptroller General of the NCS.
The essence of the assent, according to the document, is to support the implementation of the 2021 budget of economic recovery which culminated in the changes of the fiscal framework in terms of the importation of automotive vehicles into the country.
The circular, with reference number: A HMF/BNP/CUSTOM/FA 2020/02/20 and dated 8 February 2021, was titled T&T/2021 Circular N0.5 Grant of the Presidential Assent of Finance Act 2020.
It read in part, “Pursuant to the assent by Mr President to the Finance Act 2020 to support the implementation of the 2021 Budget of Economic Recovery and Resilience, certain changes to the fiscal framework regarding the importation of specific automotive vehicles into Nigeria have been introduced.
“These reforms are designed to reduce the applicable levies and duties on vehicles, mitigate rising transport costs, boost road transportation and mass transit industry. Arising from aforestated, Section 38 of the Finance Act, 2020 modified the First Schedule to the ECOWAS Common External Tariff (CET), Etc (Consolidation ) Act by amending applicable duties and levies as follows:
“a) Reduction of Import Duty on Fully Built (FBU) of Agricultural Tractors (HSHS Headings 8701 from 35 per cent to five per cent as applicable.
- b) Reduction of Import Duty of Fully Built Unit of Motor Vehicles for the Transport of persons (cars) (HS Headings 8703 from 35 per cent to five per cent as applicable.
“c) Reduction of Import Duty of Fully Built Unit (FBU) of Motor Vehicles for the Transport of Goods (HSHS Headings (HSBC Headings 8704) from 35 per cent to 10 per cent as applicable.
“4. Furthermore, the Act also introduces fiscal incentives for the Aviation Sector,” adding, “for the avoidance of doubts, airlines registered in Nigeria which provide commercial air transport services by owning or leasing aircraft are to enjoy free importation of aircraft, engines, spare parts and other components.”
The NCS official directed that the circular be widely circulated to ensure immediate compliance.
Auto
Toyota by CFAO surprises customers with free Hilux, motorcycles, all-expense-paid trip to Seychelles
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.
Auto
NAJA okays December 11 for 2024 Nigeria Auto Awards
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.
Auto
Nigeria to start production of CNG conversion kits soon — PCNGI
Nigeria to start production of CNG conversion kits soon — PCNGI
Nigeria is set to commence the production of components currently being imported for the conversion of vehicles to run on compressed natural gas (CNG).
Already President Bola Tinubu has approved the establishment of CNG industrial parks for this purpose.
Chief Executive Officer (CEO)/Programme Director of the Presidential Compressed Natural Gas Initiative (PCNGI), Engr. Michael Oluwagbemi, disclosed this in Lagos at a training workshop organised by the Nigeria Auto Journalists Association’s (NAJA).
He said the government would vigorously purse this project with a firm belief that the CNG revolution is a catalyst for Nigeria’s industrialisation.
Oluwagbemi who was represented at the event by Mr. Olayinka Rufai, Strategic Project Adviser at the PCNGI, in his presentation, said the government had identified manufacturers of components for CNG vehicle conversion that had indicated interest to establish their plants in Nigeria.
He said, “We do not want to replace the importation of fuel with the importation of equipment.
“In government’s ambitious mission to convert a million commercial vehicles in three years (amongst other targets) there lies an opportunity to establish local production of these conversion kits and their components.
“As such we are in advanced stages of preparation to set up industrial parks where CNG related equipment, materials, and components are produced.
“We have identified the central and well-suited Ajaokuta Steel Complex for the first of these parks. We have identified manufacturers of conversion kits, cylinders, and even tricycles who have all indicated interest in establishing facilities to assemble or produce from scratch.”
According to the PCNGI CEO, the initiative will drive down the demand for foreign exchange and boost the economy.
Indeed, he added that it would create job opportunities for the youth, skilled labour, and “eventually bring in foreign exchange as we begin to generate export capacity.”
Oluwagbemi stressed that Nigeria is more of a gas than an oil country, adding that the adoption of the CNG as a primary fuel source for vehicles would offer a tangible, immediate gain for all Nigerians.
He said, “CNG allows us to decrease our reliance on imported fuels and build a more resilient energy future.
“By using CNG, vehicle owners will see a reduction in fuel costs of up to 50%, which is especially critical for drivers who rely on their vehicles for income and transport.
“Additionally, CNG-powered vehicles are known for significantly lower maintenance costs. Unlike petrol and diesel, CNG burns cleaner, resulting in fewer engine deposits and less frequent oil changes, ultimately extending the life of vehicle engines and reducing repair expenses.”
He disclosed the FG was determined to drive the CNG vision to achieve maximum success.
He said apart from injecting $250 million in the past 12 months, the government was also collaborating with financial institutions for easy access by motorists.
He listed InfraCorp, Bank of Industry (BoI) and Development Bank of Nigeria (DBN) as some of the financial institutions the government was working with to ease the conversion costs for vehicle owners.
Oluwagbemi said the government planned to convert a million petrol and diesel powered-engine vehicles to run on CNG by 2027.
He assured Nigerians of the safety of CNG-powered vehicles either obtained from credible auto firm or converted at any government-approved centre.
He said the Standard Organization of Nigeria (SON) and the National Automotive Design and Development Council (NADDC) had been part of the safety and standard regulations for the project.
He specifically said the SON had provided over 80 standards on the CNG, while the NADDC handles the conversion centre accreditation and conversion kit certification.
“Let me be clear — CNG is not only safe but, in many ways, even safer than traditional fuels. CNG cylinders are rigorously tested to withstand high pressures, and because natural gas is lighter than air, it disperses quickly in the highly unlikely event of a leak, reducing the risk of fire,” he stated.
Oluwagbemi commended NAJA for organising the event and its consistent commitment to informing and educating the public about advances in the nation’s auto industry.
He particularly noted that the theme, ‘CNG/LPG/EV Initiative: Challenges, Sustainability, Opportunities, Alternatives to Fossil Fuels in Nigeria’ was timely, speaking not only to the nation’s energy and environmental goals but also to a larger economic vision.
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