As economic hardship bites harder, importation of used vehicles has recorded a significant decline with diesel or semi-diesel engine, of cylinder capacity 2500cc dropping by 65.8 per cent year-on-year (YoY) to N354.8 billion in 2024 from N1.04 trillion in 2023. The decline also reflects the effect of continuous increase in import duty, levies and taxes on that category of imports. …

The 70 per cent drop in vehicle importation into the country coupled with global trade disruption, the flotation of the exchange rate, and other factors have led to a 4.5 per cent drop in revenue collection by the Nigeria Customs Service (NCS) in the first half of this year, according to a document obtained from the agency. According to a …

The Director of Road Transport in the Ministry of Transportation, Ibrahim Musa on Wednesday disclosed that the Federal Government has approved the re-opening of the Seme border for the importation of vehicles. During the Economic Community of West African States (ECOWAS) meeting, organised between officials of Nigeria and Benin, Musa said the development followed complaints by freight forwarders operating at …