Impact of Import Duty on Car Pricing Template

Nigeria’s spending on importing used vehicles rose by 12.6 percent to N617.48 billion in 2021 from N548 billion in 2020 on the back of a reduction in import duty on used vehicles.
In 2020, the Federal Government slashed the levy on imported cars from 35 percent to five percent.
The Nigeria Customs Service (NCS) has debunked claims that it has reduced duty on vehicles from the current 35 percent to 20 percent

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