Tariff Rates on imported vehicles & Tyres Set to rise by 60%.

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The Federal Government has released the facts of new duties and levies payable on imported new and used vehicles as well as imported new tyres from next year, raising the tariff from 20 per cent to 70 per cent.

Dealers of imported vehicles estimated that the new rate would translate into an increase of 60 per cent on imported cars.

The Federal Executive Council had last month approved a new national automotive policy aimed at encouraging local production and assembling of new vehicles by having an imposition of a high import tariff on fully built vehicles. But the new rate was not given then.

Nigeria spent ₦1.05 trillion on imported cars last year — Automotive

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Nigeria spent about N1.05 trillion last year on importation of vehicles and spare parts, while its local car assembly plants suffered monumental loss in patronage, according to the Director General of the National Automotive Council (NAC), Alhaji Aminu Jalal.

Meanwhile, the Peugeot Automobile of Nigeria (PAN), which produced 90,000 cars in 1985, and had about 4,000 permanent employees, now produces about 3,000 vehicles annually with 250 staff, its Managing Director, Alh. Ibrahim Boyi, said.

Spy Chips: China Is loking at You Through Your Kettle, Other Imported Kitchen Gadgets

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Russian investigators claim to have found household appliances imported from China which contain hidden microchips that pump spam data and malware into wi-fi networks.

Authorities in St Petersburg allegedly discovered 20 to 30 kettles and irons with ‘spy microchips that send some data to the foreign server’, according to Russian media.

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House of Representatives endorse tariff increase on imported cars

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The House of Representatives Committee on Industry has endorsed the new automotive policy of the Federal Government, which seeks to increase the tariff on imported cars.

This is coming as the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said the potential for the automobile industry plan was to save as much as N550bn.

The Chairman, House Committee on Industry, Mr. Mohammed Onawo, said the implementation of the policy would attract new investments to the sector, protect local automotive manufacturers and create employment.

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