The decision to slash duty on imported vehicles in the country is not an attempt by the Federal Government to kill the country’s automobile manufacturing industry, but to reduce the cost of transportation on the people in the face of growing economic challenges, Vice President Yemi Osinbajo has said.
The VP was speaking in Abuja on Monday at the opening plenary session of the 26th Nigeria Economic Summit (NES#26) on the theme “Building Partnerships for Resilience.”
He was reacting to views expressed by a panelist, Chidi Ajaere, who said the decision by the government to cut the duty imposed on imported vehicles from 35 per cent to five per cent was a disincentive to prospective and existing investors in the local manufacturing of vehicles.
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