The new exchange rate for duty payment by importers has continued to attract reactions from car dealers, even as the operators have expressed worry over cars dealership.
Car dealers who spoke with Auto Port Weekly in Lagos lamented that the new exchange rate on duty payment on cars will further worsen the present situation.
A dealer; Mr. Samson Chikason told our correspondent that a large number of dealers will further lose their business because of the new development.
Chikason stressed the need for government to revisit the policy, he said, otherwise it may create more problems for the maritime sector.
The car dealer added that the current exchange will make Nigerian dealers to patronise port of Cotonou to ship in the vehicles, adding that it would lead to high level of vehicle smuggling into Nigeria.
The Berger car mart- based dealer recalled that the situation has been discouraging even since the automotive policy was introduced by former President Goodluck Jonathan.
"Since the former government introduced the policy in 2014, there has been massive job loss from this sector "
"Now with the new tariff introduced by government through the Central Bank of Nigeria, I think we will have no option that to stop importing cars into Nigeria"
On his part, another dealer; Fredrick Kelechukwu appealed to government to create a friendly atmosphere for car dealers and importers to remain in business.
He lamented that government policy on import and export is constantly militating against the informal sector, calling for a review of the new exchange rate on duty.
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