The recent 40 per cent hike in the exchange rate for cargo clearance at the seaports and the increase in tariff on imported cars by a terminal
However, while the agents were still lamenting the increased exchange rate, the PTML slammed a 36 per cent tariff on imported used cars.
The notice read in part, “The PTML would like to bring to the attention of its esteemed customers that the current economic conditions of surging inflation, coupled with the devaluation of currency and removal of fuel subsidy have caused the operational costs to increase multi-fold. Hence, having received the endorsement of the relevant authorities, it has become imperative to restructure our terminal tariffs from the 1st of July 2023.
“There is a drastic drop in the volume of patronage we get here; there is up to 70 per cent drop in the patronage. The thing is there is no money to buy; people are not coming again to buy from us; we just sit down here and are doing nothing. The last time we checked many of our members are out of business; these are people who have bills to pay and they come out every day looking at their vehicles and no customer is coming to buy as a result of the additional money and all that.
A car dealer in the Alimosho area of Lagos State, Mr Johnpaul Ejiogu, said, “People now prefer to buy Nigerian-used cars to Tokunbo cars. You will find out that even the Nigerian-used cars are not affordable; they are also expensive but just a bit cheaper than the Tokunbo cars. We mostly deal in those ones and it is even very difficult to get buyers now. I will say that there is about 70 per cent drop in car sales now.
“It’s like I will save my money, because the more I save to buy the vehicle, the more the price goes up,” he stated.
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