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Reliance on used vehicles importation hinders African market


•As Nigeria’s automotive policy suffers setback
Reliance on used vehicles is hindering growth of Africa’s automobile market. This is projected to escalate for sub-Saharan Africa (SSA) in the next 15 years, implying that Africa’s demand for vehicles will likely continue to be met by other continents in the foreseeable future.
This was contained in a White Paper, by World Economic Forum (WEF), in collaboration with Deloitte, titled: “Connecting countries and cities for regional value chain Integration,” released on Tuesday.
Trade in used vehicles has variable effects on producers of new vehicles. In low-income countries (LIC), used-car imports often lead to depressed sales and lower prices for new vehicles, while in high-income countries (HIC) the effects may be trivial. ....

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Lagos-Ibadan rail service in costly, unfriendly takeoff


Nigerians decry high fares
• Govt should consider social benefits LCCI
The commercial activities of the Lagos-Ibadan Rail Line struggled to a start on Monday. But its speed is being delayed by controversy over ‘elitist’ charges and concern about its commercial viability. There is also skepticism regarding its capacity to generate enough income to repay more than $1.5 billion in debt incurred on the project.
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This week’s inaugural commercial trip only amplified the viability question. It turned out that only one of the several thousands of Nigerians that daily ply the Ibadan-Lagos route was willing and able to buy a seat (at the cost range of N3, 000 and N6, 000) for the 100-kilometer trip in the hundreds-capacity passenger train. ....

Lagos State , Port Harcourt , Nigeria General , Cross River , Abuja Federal Capital Territory , Timothy Olawale , Henrii Nwanguma , Olawale Rasheed , Muhammadu Buhari , Samuel Odewumi , Rotimi Amaechi , Segun Esan , Chuma Oruche , Roland Ataugba , Lagos Chamber , Railway Roundtable , Nigeria Employer Consultative Association , Nigerian Railway Corporation , Manufacturers Association Of Nigeria , Lagos Railway District , Nigeria Railway Corporation , China Exim Bank , Nigeria Union Of Railway Workers , Ministry Of Transportation , Lagos State University , Lagos Ibadan Rail Line ,