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Peugeot sees Nigeria Importing N3tn Used Vehicles, Motorcycles this year

Chairman of Peugeot Automobile Nigeria (PAN) and former member of the House of Representatives, Hon. Ahmed Wadada Aliyu, has informed that Nigeria will import used cars and motorcycles worth N3 trillion in 2021. He also described the recent tariff reduction on automobiles as a policy somersault from the recommendations of the Automobile Standing Committee set up by the federal government through the Bureau of Public Enterprises (BPE) to examine factors hindering the growth of the automotive sector. Ahmed, during a media parley on, “The tariff regime for automobile assembly plant in the 2020 Finance Bill,” yesterday in Abuja, also accused the Comptroller-General of Customs, Col. Hameed Ali (rtd), of succumbing to the lobby of vehicle dealers with no matching investments in local vehicle assembly.

However, in a swift response, the Nigeria Customs Service (NCS) dismissed the allegation, saying that Nigerians are happy with the new policy. Aliyu, however, expressed concern that the new policy will affect PAN Kaduna Limited, which has already secured a financing of $150 million over the next three years for its operations. He added that the tariff reduction would mean the imminent closure of PAN and other auto assembly plants.