Nigerians are yet to know the result of the 2019 presidential elections. Atiku Abubakar former vice president and the presidential candidate of the People’s Democratic Party (PDP) has made campaign promises of creating jobs among other things. Being a businessman himself, he is expected to bring a business approach into the already ailing economy. The automobile sector is certainly not left out in his economic rejuvenation ambition.
For a while an indigenous automobile brand has gradually been developed and introduced into the Nigerian market. But have the brand received enough support from the government? That remains an unanswered question. With Atiku’s campaign promises there’s much expectation in seeing a growth in the development and distribution of the Nigerian automobile brand.
The Nigerian border with the Benin Republic has been closed for more than two years now. The reason for this closure is to control the importation of contraband into the country, but nothing has been done to review the high rate of import duty paid in Nigerian ports. Nigeria’s customs duty is regarded as one of the highest in the world. Is this helping the growth of businesses in Nigeria? Some economists will argue that this is hurting the economy.
No one knows what will happen to the economy of the country in the years to come but the result of this election will determine where the nation will be heading.