Nigerians Can Now Import Vehicles Through Land Borders, FG Gives Approval
- The Nigerian government has lifted the ban on the importation of vehicles via the land borders
- The Nigerian government said that the development would enhance economic activities along that corridor
- The Director of Transportation in the Ministry of Transportation, Ibrahim Musa, disclosed this recently
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The Nigerian government has lifted the ban on the importation of vehicles through land borders.
The development will boost the economic activities within that corridor.
Source: Getty Images
Development to lift economic activities at the Seme border
The government of President Muhammadu Buhari had closed land borders between Nigeria and Cotonou, Benin Republic, and banned vehicle importation via that axis.
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Daily Trust reports that the Director of Road Transport in the Ministry of Transportation, Ibrahim Musa, said on Friday, June 30, 2023, that the Nigerian government had approved re-opening the Seme border for vehicle imports.
Musa disclosed the development at the ECOWAS meeting organized between Nigeria and Benin.
He said the development came following complaints by freight forwarders operating the Seme-Cotonou border.
Musa said:
“I was here with the former minister of state for transportation when the freight forwarders pleaded that the border should be reactivated for the free movement of goods and services.
“The former minister made us prepare a memo to that effect. It was considered and sent to the government.”
The Customs Area Controller of Seme Border Command, Dera Nnadi, said the service had seen a drop in its revenue since the ban on vehicle importation from the land borders.
FG Releases new details as value of Tokunbo cars in Nigeria falls by 47% in 2022
Legit.ng reported that according to the National Bureau of Statistics (NBS), the value of used vehicles dropped by 47% in 2022, to N335.05 billion from N617.48 billion in 2021.
The NBS data says that used cars with diesel or semi-diesel engines cost around N72.32 billion to import in Q1 of 2022, N96.76 billion in Q2, about N90.77 billion in Q3 and N65.19 billion in Q4 of 2022, computing about N325.05 billion.
According to the National Bureau of Statistics (NBS), the value of used vehicles dropped by 47% in 2022, to N335.05 billion from N617.48 billion in 2021. The NBS data says that used cars with diesel or semi-diesel engines cost around N72.32 billion to import in Q1 of 2022, N96.76 billion in Q2, about N90.77 billion in Q3 and N65.19 billion in Q4 of 2022, computing about N325.05 billion.
Source: Legit.ng
