Automobile

FG Introduces Proof of Ownership Fee For All Categories of Vehicles

The Federal Government has announced the introduction of a policy that mandates all vehicles owners to obtain a Proof of Ownership Certificate (POC). Unveiling the new policy at the Bagauda Kaltho Press Centre, Alausa, Lagos, the Permanent Secretary, Ministry of Transportation, Engr AbdulHafiz…

27/06/2023 0Comments

Controversy As Lagos Imposes Fresh Tariff On Imported Vehicles

Motor Vehicle Administration Agency ( M V A A ) of Lagos State has slammed a fresh N4,600 charge on all imported vehicles coming out of Lagos ports. The tariff is known as Temporary Vehicle Tag (TVT). Annually, average of 240,000 used…

27/04/2023 0Comments

Jamaica to Import Vehicles From Nigeria

Jamaica has disclosed plans to source for vehicles from Innoson Vehicles Manufacturing in Nigeria. This plan was revealed by Jamaican High Commissioner to Nigeria, Esmond Reid during a facility tour of IVM plant in Nnewi, Anambra State on Saturday. He said, “For us, it…

12/02/2023 0Comments

Nigerians Turn To ‘Naija’ Used Cars As ‘Tokunbo’ Car Prices Surge

Many Nigerians say the current hike in the prices of imported vehicles popularly known as “Tokunbo” has affected their desire to own cars. They said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. They attributed the increase…

30/01/2023 0Comments

NAICOM Increases Third-Party Vehicle Insurance Fees By 200%

The National Insurance Commission (NAICOM), has increased the third party insurance cover fee for motorists from the initial amount of N5,000 to N15,000, effective from January 2023. The new directive was contained in a circular signed by L. M Akah, director of policy…

26/12/2022 0Comments

Vehicle Importation Drops by 40% as Clearing Charges Skyrocket

There was a drop of about 40 per cent in the number of imported vehicles that came into the country between January and October this year through the Ports & Terminal Multipurpose Limited compared to the figure for the same period of the…

21/11/2022 0Comments

VIN: Nigerians Can’t Afford Second-Hand Vehicles – Agents

Importation of used vehicles into Nigeria has declined since the introduction of the Vehicle Identification Number, VIN, by the Nigeria Customs Service. A member of the National Association of Government Approved Freight Forwarders, Ugochukwu Nnadi, disclosed this to press in a telephone call…

11/08/2022 0Comments

Clearing Agents To FG: Increase Age Limit Of Imported Vehicles To 15 Years

Clearing agents have asked the federal government to increase the age limit of vehicles coming into the country to 15 years. Kayode Farinto, acting national president of the Association of Nigerian Licensed Customs Agents (ANLCA), said this in a felicitation message to Muslims…

12/07/2022 0Comments

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