The Federal Government has suspended indefinitely its earlier plan to increase import duty on all used cars. Presidency sources said the suspension was because of the controversy which followed the introduction of 70 per cent tariff on imported vehicles under the new auto policy.
The idea of suspending the tariff on imported used cars is also to allow government put in place a sound auto car purchase scheme which will ease people’s access to the acquisition of new vehicles. “You know that the administration of President Goodluck Jonathan is a listening one. While we want to execute some reforms to strengthen the economy and improves the lives of Nigerians, there is need to do that with human face,” the source said.
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