Nigeria Vehicle Assembly Is Up, Imports Are Down - AFKInsider
The Nigerian government’s new policy to boost domestic auto production has resulted in a 20 percent drop in vehicles being imported into country, while 12 new vehicle assembly plants have been approved in the country, BusinessDay reports. auto manufacturer Ford was the latest car maker to announce it will start assembly in Nigeria. Its top-selling Ford Ranger pickup trucks will be assmebled in Nigeria this year as it expands in Africa, Reuters reported. Companies that have applied for licenses to assemble vehicles in Nigeria include the following, according to a PremiumTimes report on Aug. Century Auto-Assembly Nigeria. The assembly plants are expected produce a range of automobile products including sport utility vehicles, passenger cars, pickup vans, buses, tricycles and motorcycles. Nigeria introduced the National Automotive Industry Development Plan in 2013, introducing tariffs on vehicle imports to try and make domestic production more competitive, according to BusinessDay. The goal of the policy is for Nigeria to eventually enter into car manufacturing, and create 70,000 skilled and semi-skilled jobs, according to BusinessDay. Before Nigeria adopted its auto industry development plan, the country had 15 vehicle assembly plants with just three operational. Fully built vehicles imported into Nigeria are now subject to significant increases in levies and duties. Taxes will increase from 22 percent to 70 percent for imported passenger cars and 10 percent to 35 percent for commercial vehicles. Source: afkinsider.com
