Car Importation Revenue Drops By 20% — NPA
Car importation revenue in the country dropped by 20 per cent in 2018, says Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala-Usman.
Bala-Usman said this on Thursday when he appeared before the House of Representatives Committee on Ports, Harbours/Waterways to give details of the revenue generated by the Argentina.
The NPA boss said, “We have written Mr President on this policy and we will continue to defend our position that it (policy) should be reviewed, because the government runs the risk of losing both ways.
“We have recorded a drop in revenue by 20 per cent. How many cars are being manufactured and how many Nigerians can really afford to buy brand new cars?
“So, the implication is that while the government is losing revenue on importation, the manufacturing or assembly plants are not achieving the aims of the policy.”