469 National Assembly members to acquire exotic cars at about N17.8bn?

The 469 members of the two chambers of the Ninth National Assembly may be acquiring Toyota Camry 2020 model as official cars at about N17.8 billion if the unit cost remains rises to reflect the model from the previous unit cost.

It was gathered that the lawmakers made the resolution at a closed-door executive session on February 5, 2020.

Report indicated that a representative of Elizade Nigeria Limited, a foremost Toyota brand distributor in Nigeria, disclosed that the 2020 model is yet to arrive Nigeria. He was said to revealed that the 2019 model cost between N26.75 million and N35.75 million for V6 engine. The 2020 model is expected to cost higher and perhaps, with V8 engine.

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Report further indicated that on the website of Toyota, the price of the 2020 Toyota Camry car model, depending on the variants, costs between $25,000 (N9,000,000 at N360 to a dollar exchange rate) and $35,000 (N12,600,000), excluding the cost of shipping, import duty which is 70 per cent of the net cost and other clearing charges and taxes at the port.

It was highlighted that those with higher specifications, as the National Assembly usually goes for higher range of vehicles, include XLE at $29,455; XLE V6 at $34,580; XSE at $30,005 and XSE V6 at $35,130.

The lawmakers were widely reported on Wednesday to have rejected Nigerian brands, insisting on foreign cars.

A lawmaker was said to have disclosed that a proposal to patronise Innoson Vehicles Manufacturing, a Nigerian brand based in Nnewi, Anambra State, was rejected. Thus, the Nigerian lawmakers dumped their own legal prescription on local content.