The Federal Government is considering the option of raising tariffs on imported used cars to enable Nigerians afford new vehicles.
This revelation came to light as Vice President Yemi Osinbajo urged the National Automotive Design and Development Council to make out a comprehensive vehicle credit purchase scheme.
The directive came following the council’s plan to develop the automotive industry by reintroducing vehicle assembly operations, under the National Automotive Industry Development Plan, NAIDP.
At the council’s briefing in Abuja, Osinanjo said: “The Council Bill is taking time, but it should be made to work for those who cannot afford new vehicles.”
The Vice President expressed deep concerns on the state of the automotive industry and the effect if unregulated the sector poses for the country.
According to him the menace of car smuggling has impacted negatively on the economy, he also urged the Council to work with other agencies such as the Nigeria Customs to check the menace.
He did not fail to tell the Council to put up a strong case for the credit purchase policy.
