It’s the average Nigerian’s dream to own a personal car. For Nigerians, having a personal car is not a luxury but a necessity.
If you are ever in doubt, just wait till you get stuck in a bus-stop under a very heavy rain or when you have to miss a very important meeting because you were not strong enough to beat other passengers to jumping the ‘danfo’ bus.
There are two major ways by which people purchase cars in Nigeria.
You can either choose to buy from Cotonou (where you or your agent would have to visit Cotonou to select a preferred vehicle, pay the `customs duty and drive it down to Nigeria) or buy from overseas from where it would be shipped to a port in Nigeria and cleared with the Nigerian Customs Service (NCS) upon payment of necessary tariffs.
Prior to the new tariffs introduced by the Federal Government, the Nigerian Customs simply considered the size of your vehicle and the year the car was manufactured when determining tariff for your vehicle. This meant that a car manufactured in 2014 would attract a higher tariff than one manufactured in 2001.The average costs of clearing cars under the old regime would like this-:
- 2000-2003: N250, 000
- 2004-2006: N270, 000
- 2007-2008: N400, 000
- 2009: N600, 000
- 2010: N700, 000
- 2011-2012: N800, 000 and above.
- 2000-2003: N360, 000
- 2004-2006: N390, 000
- 2007-2008: N610, 000
- 2009: N800, 000
- 2010-2012:N900, 000 and above.
Commercial Buses (10-15 Passengers)
- 1999: N190,000.
- 1990-1995: N260, 000
- 1996-2005: N290, 000.
But with the new law which is expected to be fully operational in 2015, the cost price of the car would be used to determine tariff to be paid. A 35% duty is expected to be charged on the cost of the vehicle along with a 35% levy, which makes the cost of clearing your vehicle about 70% of the cost of the car.
So for instance, if your vehicle cost N 3,500,000, expect to pay an additional N2,450,000 except somehow, the Federal Government decides to stick with the old tariff regime.