Following the lingering fall in the exchange rate of the Naira against other major currencies, there are strong indications that importers of fairly used vehicles may be forced to abandon their consignments at the ports.
Auto Port Weekly gathered that vehicles imported to Nigeria from Europe, America and Asia in the last three months may stay longer in the ports following soaring cost of clearance and other logistics.
Importers are already regretting shipping their vehicles to Nigeria, owing largely to the current rate of Naira against Dollar, Euro, Pounds, even as dealers described the situation as alarming.
The dealers who spoke with our correspondent noted that cars that have been shipped to Nigeria from developed countries maybe abandoned because of currency crisis and the automotive policy.
In a chat with a frontline dealer; Mr. Ekene Obeleagu at Freedom park motor market; an offshoot of the Berger International automobile Market, he disclosed that most of the vehicles shipped from overseas between December last year and February 2016 may face difficulties during clearing because the cost of freighting and duty payable on such vehicles.
Obeleague reiterated that spare parts dealers in markets like ASPAMDA, Ladipo and Alaba international are gradually winding down their businesses due to the same factor militating against importation of vehicles.
He said what is applicable to the vehicles imports is similar to importers of spare parts, noting that dealers are finding it difficult to get parts when such need arises.
According to him, vehicle exported from overseas might be abandoned by their owners because the shippers are already sceptical about clearing them.
Similarly, the dealer said the same congestion faced at the parks will definitely extend to the seaports; mostly the RORO terminals because importers may not have where to take their consignments if able to clear them from the ports.
“Importers of vehicles are lamenting seriously because of the situation of what is happening to our currency”
“Many of them may likely abandon their import because of that singular reason”
“Apart from the auto policy palaver, most of them are saying that the current naira fall is a bigger issue at hand when compared to the auto policy” .
“We the dealers at the market are worried because there is no space at the various parks, the business is not moving , nobody is even ready to buy cars at this moment due to the current situation in the country”, he added.
Speaking further, he appealed to the government to find a lasting solution to the problem surrounding exchange rate, in order for importers to remain in business.
However, investigations carried out by our correspondent revealed that the prices of vehicle spare parts have skyrocketed following the forex situation.
A spare part dealer , Francis Agunna told our correspondent that the situation of Forex is adversely affecting importation of spare parts.
He said many importers of spare parts are also considering alternative businesses.
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