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President Muhammadu Buhari has directed all automobile dealers in Nigeria to publish ex-factory price of their vehicles with effect from 2017.
Ex-factory price is the exact amount a manufacturer charges for the products as they leave the production line. The ex-factory figure is solely determined by the manufacturer, and does not include taxes, surcharges or shipping and handling fees.
The directive is based on a request forwarded to the President by the comptroller general, Nigerian Customs Service (NCS), Hammed Ali. The NCS had on Monday placed a ban on the importation of vehicles through the nation’s land borders.
