FULL LIST: Tokunbo Vehicle Dealers Unveil New Price List For Cars In Nigeria

Following the unification exchange rate policy of the administration of President Bola Tinubu, Tokubo vehicle dealers have released price list for various cars and vehicles in the country.

The new rate was implemented by the Central Bank of Nigeria and the Nigeria Customs Service.

In a circular issued, the Nigeria Customs Service said the rates have been hiked from N422.30 per dollar to N589 per dollar.

DAILY GIST reported that President Bola Tinubu signed four new Executive Orders, two of which stopped the new levy on imported vehicles and proposed a 5% tax on telecom.

The Executive Orders suspended the import adjustment tax imposed on certain vehicles.

The newly introduced 40% hike in the exchange rate for cargo clearance at the seaports and hike in tariff on imported vehicles by terminal operator Ports and Terminal Multipurpose Limited has caused about 70% decline in the sale of fairly-used or second-hand imported cars in Nigeria.

The Central Bank of Nigeria (CBN) and the Nigeria Customs Service recently took the ongoing forex reforms to the maritime sector with a 40% hike in the exchange rate for calculating the import duty.

The Nigeria Customs Service raised the exchange rate used to calculate import duty from N422.30 per dollar to N589 per dollar.

On Thursday, July 6, 2023, the CBN raised the exchange rate for cargo clearance by 31%, moving from N589 per dollar to N770 per dollar.

The Customs Services disclosed the information in a July 4, 2023 circular titled ‘Implementation of the floating foreign exchange rate’ signed by the Assistant Controller General, I.T. & Modernisation, K.I. Adeola.

The circular reads in part: “The CBN has instituted the floating exchange rate regime, which has given rise to constant changes in the exchange rate for trade. The policy is to be implemented by all government ministries, departments, and agencies, including the NCS.”

The Customers Service directed its area controllers to ensure the information got to relevant stakeholders.

NEW PRICE LIST FOR CLEARING DIFERENT CARS.

March 2024 Price-list of Tokunbo Cars

TOKUNBO / FOREIGN USED CARS BELOW:

2012 Toyota Camry LE + Alloy wheels @ 9.2m (Gold )

2010 Venza Limited + Pano roof @ 15.5m

2011 Camry Sport + Thumbstart @ 10m (Black)

2011 Toyota Camry XLE + Rev Camera @ 8.9m

2008 Toyota Rav4 – V4 @ 10m

2014 Toyota Rav4 limited – Thumbstart @ 17m

2003 Toyota Corolla @ 6.3m

2007 Toyota Matrix @ 6.4m

2005 Toyota Camry LE + Alloy @ 6.6m

2008 Lexus RX350 @ 10.7m

2010 Lexus RX350 @ 19.5m

2008 Lexus ES350 + Panoramic roof @ 12.5m

2010 Lexus ES350 + Panoramic roof @ 14.1m