Chairman of Innoson Vehicle Manufacturing Company Limited , chief Innocent Chukwuma has warned that the federal government’s proposed reduction of import duties and levies on buses, tractors and other motor vehicles as contained in the recent 2020 Finance Bill will kill the local automotive industry.
The downward review of duties and levies as well as the introduction of tax incentives were intended by government to address the socio-economic problems arising from the COVID-19 pandemic and the recent hikes in the pump price of petrol and electricity tariff. He said the duty review is an embarrassing policy summersault considering that the present charges on imported vehicles were prescribed by the Automotive Policy {the National Automotive Industry Development Plan to discourage the influx of fully built up products while helping to boost production by the domestic auto plants.
He argued that the federal government’s plan would result in serious unemployment crisis as the local auto plants and related companies that will be adversely affected by the continents of the proposed bill, will be forced to lay off their workers in order to survive.
Until the weakness of our Leaders keep showing up other than their strength we won't move forward. If the leaders can not be judged by the law but are the law which they legalized to benefit themselves Nigeria wont move forward. There's need for rapid restructuring.
innosonvehicles what is the price of your cars ? And which of your cars can a Nigerian poor man afford ?
Oga even as it is, we can't afford your cars... So, Which one you dey?
innosonvehicles Why did you leave church, education and labor to be sponsoring BBNaija. May the Almighty God by the Power of the Holy Crucifix and most Precious Blood of our Lord Jesus Christ and the Fellowship of the Holy Spirit grant His Church the Grace to fast for sainthood.
Confuse government. Wrong policy
innosonvehicles We need cars for the rich and average. Innoson vehicle is only for the rich. With 2M u can buy a Kia, corolla but can't buy any Innoson of such grade. If I can get a brand new Innoson for 2M no one will bother for 2ndhand. Make cars for everyone like Toyota
That is what they are driving at to discourage Innoson motors
See this hater
It is just the simple truth. I wonder why Nigeria government will not think of aftermath of their policies. When are we going to be industrious and reduce this importation rate
Business as usual.