“It Is Cheaper” : 90% Of Vehicles Imported Into Nigeria Are Accidented, Says Agents, Blames Forex Crisis

Importation of accidented (or damaged) vehicles into Nigeria rose by 80 percent, Customs agents tells The Punch.

An agent, who blamed fluctuating forex, said 90 percent of vehicles imported into Nigeria are now accidented.

Out of 100 vehicles imported into Nigeria, 40 percent are said to be badly damaged and couldn’t move.

Dented ones are said to be like 10 per cent, while another 40 per cent are damaged but movable vehicles.

Agents notes that it is now cheaper to bring in damaged vehicles and fix them in Nigeria than importing newer ones.

The importation of accidented (or damaged) vehicles into Nigeria rose to about 80 per cent with several licensed customs agents blaming the new development on the foreign exchange crisis.

Speaking with The PUNCH on Tuesday, the licensed customs agents notes that it is now cheaper to bring in damaged vehicles and fix them in Nigeria than importing newer ones.

The Vice President of the National Association of Government Approved Freight Forwarders (NAGAFF), Ugochukwu Nnadi, told The Punch that :

“Any vehicles you see here in the Nigerian market, if you go overseas, such vehicle no matter the year, the price they are selling them there is higher than what they are sold locally. What they do is buying off-road vehicles from auctions, which are usually cheaper.

“The volume of imported damaged vehicles is up to 80 per cent. It is cheaper to bring damaged vehicles in; that is the only one they can bring in. The cost of fixing them is cheaper,” Nnadi explained.

Ugochukwu Nnadi stated that the fluctuating forex had made it difficult for vehicle importers and their agents to plan properly.

“The issues have been with the forex crisis because you can’t plan or do anything. You would be expecting something; in the end, you would see another thing.

Also speaking, the Youth Leader of the Association of Nigerian Licensed Customs Agents (ANLCA) at Tin Can Island, Remilekun Sikiru, explained that out of 100 imported vehicles in Nigeria, 90 were damaged.

“Out of 100 vehicles that come into the country, the ones that are badly damaged and couldn’t move is 40 per cent, dented are like 10 per cent, and another 40 per cent are damaged movable vehicles,” he explained.

He also linked the increase in the number of imported damaged vehicles (accidented vehicles) to the weakened naira.

“Our shippers know that they can buy them at a cheaper rate over there and fix them here instead of fixing them there because it would be more expensive fixing them there,” he noted.

Source Credits : The Punch 

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