Tokunbo car prices jump 100% compared to the tariff hike

The prices of imported used cars have spiked by 100 per cent in the last year, on the back of a tariff hike by the Nigeria Customs Service in 2022. When our correspondent visited some of the car marts in Lagos, including Berger and Alimosho, it was observed that cars such as Toyota Corolla, Camry, and Honda Accord products were about N1m higher than their former prices before the Customs raised…
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