Business Hilights

Tracking Nigeria's Headline Business News Online


Prices of Tokunbo cars may rise as FG bans importation through land borders

Ad 2
Ad 3

Prices of both used and new cars are likely to rise from today the Federal Government Monday issued an order banning importation of vehicles into Nigeria through the land Borders with effect from January 1, 2017.

A statement issued by the Nigeria Customs Service (NCS) Public Relations Officer, Mr. Wale Adeniyi on Monday explained that the Ban is sequel to a Presidential Directive restricting all vehicle imports to Nigeria Sea Ports only. The order takes effect from 1st January 2017.

NCS recalled that “The restriction on importation of vehicles follows that of Rice, whose imports have been banned through the land Borders since April  2016.

“Importers of vehicles through the land borders are requested to utilize the grace period up till 31st December 2016 to clear their vehicle imports landed in neighbouring Ports,” the terse statement concluded.


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.