The Federal Government has shifted the implementation of the 35% additional tariff on used cars, popularly known as Tokunbo vehicles to April 30th.
Chief Executive Officer, National Automotive Council (NAC), Aminu Jalal, said: “We saw some publications today (Wednesday) saying that used cars will cost more from January 1, 2015 as the 35 per cent levy will be charged. This levy would be further deferred to 30 April 2015.”
Giving reason for the deferment, Jalal said the federal government intends to balance vehicle supply and affordability with the production by the assembly plants.
The Director General said: “The government earlier deferred the imposition of the levy on used cars to December 31, 2014 to enable assembly plants ramp up enough production to satisfy demand.”
He added that the Federal Government had asked the Coordinating Minister of the Economy, Dr. Ngozi Okonjo Iweala to shift the policy to April 30th 2015.