Belarus to invest in Nigeria’s auto industry

  The government of the Republic of Belarus said it would invest in Nigeria, especially in the automotive industry, having seen the development of the economy. The Ambassador of Belarus to Nigeria, Mr. Vyacheslav Brill, was quoted to have said this in Abuja, when he visited the National Automotive Design and Development Council, following the recent signing of a Memorandum of Understanding (MoU) between the Federal Government and the Volkswagen Group for the production of various brands of the automaker’s vehicles in Nigeria. Brill said his country was eager to…

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Auto policy: Importers seek duty review

As the cost of importing used and new vehicles rise by 400 per cent, importers are pressing for a downward review of import duties. BAYO AKOMOLAFE reports Four years after, the national automotive policy introduced to revive ailing Nigerian auto industry has brought hardship to importers. The policy was originally intended to encourage local manufacturing of vehicles and discourage importation of cars in order to gradually phase out used cars in the country. It was an import substitution strategy to reduce importation of vehicles and boost the capacity of domestic vehicle…

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