REVEALED: Why Vehicle Spare Parts Are Now Expensive

REVEALED: Why Vehicle Spare Parts Are Now Expensive

Nigerian car owners and automobile technicians are now experiencing an increment in the prices of spare parts in the country – no thanks to the freight charges across the country’s seaports that have soared by 67%.

Lamenting the hardship they now face, freight forwarders revealed that they used to pay around N600, 000 to clear a 40-foot container loaded with used vehicles’ spare parts, but this had risen to over N1 million for the same consignment.

“For example, if you had a 40-foot container loaded with used motor parts before now, the surface duty was N600, 000. Now, they have given it a benchmark of N1 million at the surface duty level.

“It is about 60% higher than what it used to be on the same goods. This is why engine parts are very expensive. Before now, you could get a used engine for around N30,000, but you can’t get any engine now, no matter how small it is, for anything less than N100,000.

“And they are doing these things thinking they are generating revenue, but they don’t know that they are making the people poorer,” Ugochukwu Nnadi, a member of the National Association of Government Approved Freight Forwarders (NAGAFF), stated.

FAR-REACHING CONSEQUENCES

Nnadi added that car owners and automobile technicians face the consequences of such a surge in freight charges.

Akintoye Ojo, a member of the Association of Nigerian Licensed Customs Agents (ANLCA), who also spoke on the matter, confirmed that “the prices of clearing imported car spare parts have gone up.

“The commodities in your container and the value are what determine the duty you pay. As a matter of fact, the Customs is increasing their values but they hide under the umbrella of freight charges and also insurance.

“For old spare parts, you can clear for less than N600,000 before, but there is no spare parts container you can clear for less than N1.5 million.”

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