Operators in the automobile industry have asked the government to fasten the review of the automotive policy which was introduced in 2013 by the administration of former President Goodluck Jonathan.
The automobile policy was introduced in October 2013 to encourage local manufacturing of vehicles and discourage importation of cars as well as gradual phasing out of used cars (popularly known as Tokunbo cars).
The policy which was implemented in 2013 raised the tariff on imported vehicles from 20 per cent to 70 per cent, leading to the diversion of Nigeria-bound vehicles to the ports of neighbouring countries, a situation that led to Nigeria losing N600billion in three years.
But, the Federal Government had stated recently that it would review the policy soon.
However, car dealers and importers have expressed high hopes on the development, even as they called on government to fasten the review of the policy.
Speaking on the planned review of the policy, a stakeholder and Chairman of NextMotor Network; Chief Paul Okonji asked government to listen to the plight of stakeholders and Nigerians.
Okonji maintained that the policy is a curse to the sector and indeed the economy of Nigeria, adding that thousands of businessmen in the sector have jettisoned importation of cars from overseas.