…sets September deadline

Following an obvious congestion at the various ports in Lagos, the Federal Government has finalised plans to confisticate more than 350 vehicles that have been abandoned by their owners.

The vehicles and other cargoes currently litter the Lagos Roll-on Roll-off (RoRo) terminals, the Port and Terminal Mult-services Limited and Five Stars Logistics Limited, TinCan Island Port.

Findings revealed that importers have been reluctant to pick the imports, following huge tariffs and taxes such as the 1 per cent Comprehensive Import Supervision Scheme (CISS), 4 per cent Import Adjustment Tax (IAT) on vehicle values, 35 per cent import duty and 35 per cent levy on vehicles above 2,000cc, making a total duty of 70 per cent at Nigerian ports.

Despite complaints by importers over the numerous charges, the Federal Government has threatened that those who abandoned the vehicles would lose their consignments from September 2025.

At the RoRo terminal, it was revealed that monthly shipments of vehicles had plunged by 85 per cent as shipping data provided by the Nigerian Ports Authority (NPA) indicated that an average of 400 vehicles are ferried to the port instead of 2,000 per vessel.

This month, the shipping data explained that only 1,329 units were ferried to PTML by three vessels as Grande Cotonou berthed with 400 units; Grande Ghana, 350 units and Orchid Ace, 579 units.

Findings revealed also that between March and April 2025, some trucks, cars and passenger vehicles valued at N275 billion ($172 million) were shipped to the country from United States as high import duty and tariffs discouraged importation.

In April, only $78 million cars were ferried to the country, while $99 million worth of passenger vehicles also delivered. Of the amount, $7 million trucks and buses and $20 million spare parts were shipped to the country.

According to the NPA statistics, only 1,100 units of used vehicles were ferried to the port in April 2025, a drop from 51 per cent from the 2,250 units imported in March 2025. The data explained that at PTML in Tincan Island, Grande Argentina ferried 350 units, Great Casablanca, 500 units and Lake Geneva, 250 units in April.

Also, in March, Great Abidjan discharged 500 units; Great Lagos, 500 units; Repubblica del Brasile, 350 units; Grande Lagos, 500 units and Grande Cotonou, 400 units. It was learnt that price of imported used Toyota Corolla which sold for N1.9 million for a in 2015 model now goes for N9.5 million, Honda CR-V and Lexus RX now sell for between N16 million and N25 million.

According to the Managing Director of Oktopo Logistics Limited, Mr Sam Elem, it was cheaper for importers to order for damaged vehicles, saying that with $2,000 importers could buy a Toyota used vehicle in United States, saying that with import fees, clearing at the port and repairs, it would cost less than N2 million when compared to N15.2 million to acquire Hyundai 1.2 litres, which is one of the lowest cars assembled in the country.