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 in Customs duties on imported vehicles to the high cost.
According to them, the continuous increase in the prices of imported vehicles has left them with no option but to scout for Nigerian used cars, popularly called “Naija cars”.Tokunbo cars are fairly used cars that are imported into Nigeria with second-hand value while Nigerian used cars are those already used on Nigerian roads and either sold to a second or third party.
Meanwhile, National Public Relations Officer of the Nigeria Customs Service (NCS), Comptroller Timi Bomodi, said it was wrong to blame a decline in the importation of cars on Customs levies.
He said various variables such as inflation, exchange rate and other market forces had contributed largely to the increase in the prices of vehicles.