Connect with us

Hi, what are you looking for?

TVCE Articles

Nigeria’s vehicle imports drop 80% due to Forex

The prevalent unfavourable forex regime has continued to reduced the volume of vehicles imported through the Nigerian ports, the Operations Manager, Ports and Terminal Multiservices Ltd. (PTML), Jack Angrish has said.

Angrish said that the unstable and high cost of the US dollar over the local currency did not encourage vehicle trade as many vehicle seats remained empty with vehicle importation dropping by 80 per cent from about 30,000 to just 6,000.

Angrish told our correspondent on Saturday in Lagos that “this is time for the vehicle business operators to pool their resources together to facilitate domestic manufacturing’’.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Entertainment

After nearly two decades of tension, pop legends Madonna and Sir Elton John have reconciled. The feud, which began in the early 2000s over...

Entertainment

Grammy-nominated Nigerian artist, Davido, continues to dominate the music scene with chart-topping hits and candid reflections on his life. In an insightful interview on...

Entertainment

Nigerian singer Lyta has issued a heartfelt appeal to his fans, saying he may quit music if his songs don’t receive more support. In...

Entertainment

Grammy-winning Nigerian artist Burna Boy has caused a stir with his recent statement on the Nigerian music industry, questioning the value of local success...

Copyright © TVCCommuniation owner of TVC Entertainment