Even foreign investors are feeling the brunt of the federal government’s new auto policy.
President/CEO of Behco International Group (BIG) Holdings – a United States based company, Benjamin Ojogwu, has complained to SHIPS & PORTS DAILY about what he described as the outrageous increase in tariff on vehicle imports to Nigeria.
He said that his company, which is in partnership with an indigenous company engaged in providing transport services for multinational corporations, presently has 55 fully built units of 2006 model Mack trucks delayed for clearance at the Tincan Island Port due to the new 35% duty charged on each of the vehicles.
Ojogwu said that as at last year, he imported trucks of such into the country at 5% duty.
He said that he would rather pay to have the trucks sent back to its port of origin than pay the 35% vehicle tariff noting that the government’s new auto policy will only succeed in scaring away foreign investors from Nigeria.
“There are orders for 135 more which will definitely not happen with this new penalty. The Nigerian government should be ashamed of this blunder,” Ojogwu further stated.