The government has been advised to place a ban on used cars, popularly known as tokunbo.
Mr Tokunbo Aromolaran, the Managing Director of Volkswagen of Nigeria Ltd. (VON), made this appeal during a panel session, Naija247news reports.
'Develop locally assembled vehicles by banning used cars completely', expert urges
Innoson Motors car (made in Nigeria)
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![Debt services have been projected to take up about 82% of the country’s revenue in 2023 [CBN]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Debt services have been projected to take up about 82% of the country’s revenue in 2023 [CBN]")
According to him, placing a ban on tokunbos will encourage the development of Made-in-Nigeria cars.
“One of the best things the government can do to develop local assembling of cars in Nigeria is by banning used cars completely, in a gradual process, say in a period of three years, ” Aromolaran said.
ALSO READ: Nigeria places a ban on rickety cars!
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He was supported by Mr Kunle Ade-ojo, the Managing Director of Toyota Nigeria Ltd, who called for a finance solution.
“It is a bitter truth we need to know that the market for used cars is still very large, so this is an issue we need to put into consideration, when implementing this policy, talking about pricing and taste of the average Nigerian.
How can we convince about 100 million middle and low level Nigerian to buy a new car of X price instead of a used car he would rather buy for a cheaper price?
So this is something we need to consider, even as businessmen and the government.
There is a great need to put in place a finance solution to meet the needs of the Nigerians that we want their tastes to change to buy new, made-in-Nigeria cars,” he said.
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