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'Vehicle prices to increase next year' – Punch Newspapers


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Okechukwu Nnodim, Abuja
The prices of vehicles imported into Nigeria will increase significantly from next year once the Fuel Grade and Vehicle Emission Standards Regulations of the Economic Community of West African States is implemented, the Association of Motor Dealers of Nigeria has said.
AMDON said the plan of ECOWAS was to implement the regulation next year, which would restrict the importation of passenger vehicles of not more than five years old and heavy duty vehicles of not more than 10 years old into ECOWAS member states, including Nigeria.
President of the association, Ajibola Adedoyin, told journalists in Abuja that if the Federal Government allowed the implementation of the regulation in Nigeria, the cost of imported vehicles would definitely increase from next year. ....

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Daily Trust - Dealers protest plan to ban vehicles below 2015 model


He said the regulation is a decision by ECOWAS Ministers after they considered a report from the ECOWAS consultant, ICCT, noting that the ECOWAS Commission will soon issue a directive to member countries based on the regulation to restrict the importation of passenger vehicles above five years old and heavy-duty vehicles above 10 years.
A citation of the regulation said: “Commencing from January 1, 2021, it will be illegal for Nigerian businesses and consumers to purchase any imported vehicles older than the 2015 model year”.
Adedoyin, however, said: “The implementation of this regulation will have significant negative socio-economic consequences for Nigerian consumers, along with minimal environmental and health benefits.” ....

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