By: FEMI OWOEYE It is understandable that, with the continuous crash of the oil prices in the world market, government has been incapacitated financially. Notwithstanding, in a situation like this, economic theory of Opportunity cost and alternative forgone becomes handy. This is a period when relevant government policies, actions and inactions should naturally favour local…
[dropcap]A[/dropcap]midst dwindling oil prices and shaky economy, another automotive assembly plant has opened in Nigeria, this time located at the heart of Ikeja, the capital of Lagos State. Established by PERFECTION Motors Company Limited, member of the Lee group in Nigeria, in collaboration with a Chinese automaker, FAW, one of China’s biggest and most prestigious…
…Stakeholders Call for FG Intervention [dropcap]C[/dropcap]urrent scarcity of foreign exchange (FOREX) is taking heavy toll on Nigeria’s fledgling automobile industry, as auto assemblers are starved of foreign currency with which to procure KD kits they require for operations. As Motoring World gathered over the weekend, capacity utilization of affected plants might have dropped badly due…
[dropcap]T[/dropcap]he Ports and Terminal Multiservices Ltd. (PTML) Command of the Nigeria Customs Service (NCS) has blamed the nation’s poor economic performance in 2015, partly on the nation’s auto policy. While addressing newsmen penultimate week, the command’s spokesman, Mr. Steve Okonmah, revealed that in 2015, PTML’s revenue generation fell from N91.45 billion in 2014 to N63.18…
