The Federal Government has announced that plans are in place to gradually phase out the importation of second-hand cars, popularly known as Tokunbo. The Federal Executive Council (FEC) arose from its meeting on Tuesday, stating that it had adopted the Automotive Industrial Policy Development Plan which was aimed at stimulating the manufacturing of locally-made vehicles.
Over the years, experts have clamored for the provision of an enabling environment that would engender the manufacture of made-in-Nigeria cars as is obtainable in other parts of the world, notably Japan, Germany, France and USA. As much as the argument thrives about Nigeria’s manufacturing capability, being a third-world country, it should be noted that India, also a third world country, has since been producing its own indigenous vehicle-the Nano and Tata.
While some argue that the move is ill-timed and would hurt the middle-class, others are of the opinion that it is a welcome development as it would stimulate growth in the manufacturing sector of the economy.
Poser: Will this policy hurt young adults just starting out in life. Is the best way to go?