Jonathan reverses Obasanjo's ban on used cars

The ban on the importation of vehicles older than 10 years has been lifted.

President Goodluck Jonathan has approved the extension of the age limit of used vehicles that can be imported from 10 years to 15 years.

Also removed from the import prohibition list are toothpicks, furniture, textile fabrics, lace, embroidered fabrics and made up garments.

The directive is contained in November a memo signed by the Minister of Finance, Mr. Olusegun Aganga .

Aganga said any vehicle that is manufactured 15 years ago is now free to enter the nation’s sea port for Customs clearance.


 
The memo reads: “This is to confirm the Mr President has granted approval for the underlisted products to be removed from the import prohibition list The products are cassava, toothpicks, furniture, textile fabrics and articles thereof (African prints- (printed fabricks), lace and embroidered fabrics and made up garments.

“Furthermore, Mr President has approved an import duty rate of 10 percent plus 10 percent levy on Health and Energy drinks, such as Power Horse, Red Ginseng, which had been excluded from import prohibition and the extension of the age of used motor vehicles to be imported into the country from 10 to 15 years from the year of manufacture.”

The changes took effect November 19, 2010.

Courtesy Nation