“Before you sell your used cars, check these”: Car Dealer Cries Out Over Custom Duty Clearing Cost for Cars, Clear 2008 ES350 for 6m

The Central Bank of Nigeria (CBN) has increased the exchange rate for calculating Customs duties at the country’s seaports for the fifth time this year. On Wednesday morning, February 14, 2024, the rate was increased from N1, 444.56/$ to N1, 481.482/$, as per information obtained from the official trade portal of the Nigeria Customs Service.

A Nigerian car dealer has called his business associates on social media to confirm current prices before making customer quote estimates.

The outcry is coming only shortly after BusinessDay announced that CBN raises Customs duty rate by 2.6% for the fifth time in 2024.

Many car dealers the publication contacted noted that the customs duty reduction will be a good development and aid more Nigerians to easily afford decent used vehicles without settling for accident vehicles.

The Nigerian Customs receive duty for the importation of cars and other foreign items, these duties vary by the size, capacity, and year of manufacture of the car. The carrier of your car e.g shipping company will receive their shipping charges, which vary only by the weight and size of your vehicle. Trucks and SUVs attract higher shipping charges.

Before you sell your used cars, below are the new costs of clearing from Apapa

1. 2019 Toyota RAV4 =9,570,000
2. 2004 or 2014 Toyota RAV4 =4,050,000
3. 2012 Toyota Tundra=2.3M
4. 2005 or 2015 Toyota Camry =3,450,000
5. 2008 or 2014 Honda Accord= 3,750,000
6. 2010 Mercedes Benz C300 =6.9M
7. 2005 or 2014 Toyota Corolla=3M
8. 2010 Mercedes Benz C300 =6.9M
9. 2005 or 2014 Toyota Corolla=3M
10. 2010 Toyota Tacoma=1.9M
11. 2010 Mazda CX-7=4.2M
12. 2005 or 2014 highlander=5.3M
13. 2016 Highlander =7,150,000
14. 2007 or 2013 Avalon=5.5M
15. 2008 Lexus ES350=6,050,000