Price of used vehicle soar in Nigeria over freight, clearing charges, FX

 As Clearing of vehicles is cheap in Ghana, Benin, Togo Prices of imported secondhand automobiles, popularly known as Tokunbo vehicles, have gone out of the reach of average income earners. The Guardian learnt that prices of Tokunbo and new cars in the country have tripled due to high clearing fees and processing, high duty, freight rate, security surcharges, insurance on Nigeria-bound cargoes, unfriendly ports environment, continuous border closure and illegal charges of government agencies, now worsened by high exchange rate. A survey of current prices of vehicles show that Toyota Camry 2004, which should ordinarily go for N1.6 million now

By |October 6th, 2021|Categories: News|Tags: , , |0 Comments
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