Tag: Tokunbo vehicle sales drop by 70%

Tokunbo vehicle sales drop by 70%, as buyers opt for Nigerian-used cars

Jul 9, 2023

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by

Olumide Akinrinlola

in Market

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 operator, Ports & Terminal Multipurpose Limited, has led to about 70 per cent drop in the sale of second-hand imported cars. The PUNCH reported last week that the…