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Friday, 14 November 2014

BUSINESS

Tokunbo dealers to sell Nigeria-made cars
By Rasheed Bisiriyu 
 









Used car dealers may soon begin to sell made-in-Nigeria vehicles as part of measures to incorporate them into the new automotive policy of the Federal Government. Already, the Tokunbo or used car dealers are holding talks with the National Automotive Council, an agency of the Federal Ministry of Industry, Trade and Investment, on the modalities of their participation in the policy. 


The Director-General, NAC, Mr. Aminu Jalal, and President, Motor Dealers Association of Nigeria, Mr. Benjamin Oghumu, confirmed the development to journalists in Lagos on Wednesday after their meeting.
Although Jalal said the government had no intention of banning the sale of Tokunbo vehicles, he noted that by the time the new auto policy must have taken shape, many Nigerians would not have anything to do with imported used cars and that could throw the dealers out of business.
"We will not ban Tokunbo cars, but we'll give Nigerians alternatives; we'll give them good finance arrangement that will make new cars affordable. And Nigerians will prefer new cars," he said.
Jalal said a South African finance company, Westbank, had signed a Memorandum of Understanding with the NAC for the vehicle finance purchase scheme.
He said the company was experienced in this area of business and was currently involved in a similar scheme with a number of neighbouring countries.
Motor dealers, according to him, are an integral part of the auto policy and stressed that the council planned to change the status of the used car dealers to dealers of locally manufactured vehicles.
"To this end, the council will introduce companies to manufacturers and offer support to companies that meet the requirements of becoming motor dealers in the registration guidelines. It is expected that in the nearest future, used vehicles will be those generated internally and not those imported from abroad," the NAC boss said.
Jalal added that no fewer than 23 firms had expressed interests in establishing vehicle assembly plants in Nigeria.
According to him, some of the firms have commenced operation, including Von Automobiles in Lagos, which is making Nissan; Hyundai and Ashok Leyland; Pan Nigeria Limited (assembling Peugeot cars) and Kia Motors.
He said six new vehicle assembly plants would commence operation in the country next year, although he did not reveal the names and other details of the companies.
For the big players such as Toyota, Honda, Ford and Mitsubishi, the NAC DG said they were still doing feasibility studies, stressing that as old automakers, they wanted to be sure that nothing would be left uncovered before making the investment.
Meanwhile, the president of the motor dealers said the association was initially opposed to the auto policy because its members felt it would drive them out of business.
But he added that the group was happy with the new development of incorporating them into the new scheme.
Oghumu also urged the government to assist dealers who were willing to come together to establish vehicle assembly plants. 

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Editor's Mail

Love the article on Gaddafi
We must rise above tribalism & divide & rule of the colonialist who stole & looted our treasure & planted their puppets to lord it over us..they alone can decide on whosoever is performing & the one that is corrupt..but the most corrupt nations are the western countries that plunder the resources of other nations & make them poorer & aid the rulers to steal & keep such ill gotten wealth in their country..yemen,syria etc have killed more than gadhafi but its not A̷̷̴ good investment for the west(this is laughable)because oil is not in these countries..when obasanjo annihilated the odi people in rivers state, they looked away because its in their favour & interest..one day! Samosa Iyoha

Hello from
Johannesburg
I was amazed to find a website for Africans in Hungary.
Looks like you have quite a community there. Here in SA we have some three million Zimbabweans living in exile and not much sign of going home ... but in Hungary??? Hope to meet you on one of my trips to Europe; was in Steirmark Austria near the Hungarian border earlier this month. Every good wish for 2011. Geoff in Jo'burg

I'm impressed by
ANH work but...
Interesting interview...
I think from what have been said, the Nigerian embassy here seem to be more concern about its nationals than we are for ourselves. Our complete disregard for the laws of Hungary isn't going to help Nigeria's image or going to promote what the Embassy is trying to showcase. So if the journalists could zoom-in more focus on Nigerians living, working and studying here in Hungary than scrutinizing the embassy and its every move, i think it would be of tremendous help to the embassy serving its nationals better and create more awareness about where we live . Taking the issues of illicit drugs and forged documents as typical examples.. there are so many cases of Nigerians been involved. But i am yet to read of it in e.news. So i think if only you and your journalists could write more about it and follow up on the stories i think it will make our nationals more aware of what to expect. I wouldn't say i am not impressed with your work but you need to be more of a two way street rather than a one way street . Keep up the good work... Sylvia

My comment to the interview with his excellency Mr. Adedotun Adenrele Adepoju CDA a.i--

He is an intelligent man. He spoke well on the issues! Thanks to Mr Hakeem Babalola for the interview it contains some expedient information.. B.Ayo Adams click to read editor's mail
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