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Nigeria’s Neighbours Profiting From Its New Automotive Policy

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The total number of vehicles discharged from Lagos ports have dropped to 8,000 units in January 2015, from 27,000 units in January 2014. This 63 per cent decrease is an indication that Nigeria’s automotive policy has begun taking its toll on car imports, VenturesAfrica reports.
Dr Vicky Haastrup, the chairman of Seaports Terminal Operators Association of Nigeria (STOAN), speaking in Lagos last Monday, explained that some government policies on importation were affecting the volume of cargo handled at ports. “It must be noted, though, that in the first half of 2014, the volume of vehicles imported was extremely high in anticipation of the introduction of the new duty regime on vehicles. The average number of cars and vans imported for previous years was in the range of 20,000 units per month.”
She also explained that in the Cotonou port, the total number of cars and vans discharged in January 2015 was 30,000 units, as against 20,000 units discharged in January 2014. This represents a 50 per cent growth.

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