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New Age Limit For Used Car into Nigeria


* Zero duty for educational materials
* Import of textiles banned

Although it is not deemed a policy reversal, the Federal Government of Nigeria has pegged the age limit for imported used cars also known as tokunbo at 10 years. The lifespan for such vehicles until yesterday was eight years. There were earlier moves to fix the age limit for imported buses and trucks at 10 and 15 years.

The government has also banned the importation of textiles and other fabrics.


Weak U.S. Auto Market


Detroit's automakers, facing the weakest auto market in nearly two decades and running low on cash, are discussing previously unimaginable combinations among themselves to get past a treacherous downturn.

In just four months, General Motors Corp. has broached the possibility of a merger with both of its rivals, Ford Motor Co. and Auburn Hills-based Chrysler LLC, owned by Cerberus Capital Management LP.

"It's a pretty ominous sign to see these discussions in a way," said John Casesa, managing partner of the consulting firm Casesa Shapiro Group. "This is an extremely grave situation in Detroit."