Tokunbo vehicle
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Tokunbo Vehicle is the local name ascribed to used vehicles imported from Europe in Nigeria.[1] The word 'Tokunbo' is a unisex name given to children of Yoruba heritage born overseas. It literally means 'born overseas' or 'born across the sea'. In Nigeria, the Tokunbo market signifies the place where different kinds of used items such as electronics, cars, and domestic goods are sold. [2] These products are popular among the lower-middle class who cannot afford new cars often called Tear Rubber[3][4]
Background
[edit]The Tokunbo market represents one of the few ways to determine the strength or soundness of an economy, because it creates a dumping ground of used and hazardous products from developed nations to the developing ones. Therefore, a nation with such an engagement could be showing effect of economic deficiency.[5][6] These products are imported through our sea port and land border (Cotonou e.g. Tin can Island in Apapa).[7] According to the expert in the market, model which is the year of manufacture of the product is determined by the life span of such product.
Negative impact of engaging in Tokunbo Market
[edit]- Most times these products appear not to be cost effective, because it is a resultant effect of a product that have been used for several years before being sold to the second buyer. Due to the geographical changes on the product destination, they are prone to incessant fault.[8]
- The involvement in this investment by a nation will not permit the indigenous companies manufacturing vehicles to thrive. Thereby, shrinking the gross domestic product by discouraging local investors in the industry.[9]
- The need to invest in spiritual engagement to avert the negative implication of the original owner i.e. stolen vehicle [10]
- It turns a country to a dumping ground for toxic items which were recycled in the country of import. This might later lead to health hazard in the nearest future.[11]
References
[edit]- ^ africa business (2002). "tokunbo cars". Retrieved 15 October 2015.
{{cite web}}:|author=has generic name (help) - ^ a literary magazine (21 January 2015). the transnational. BoD – Books on Demand. ISBN 9783738604283. Retrieved 15 October 2015.
{{cite book}}:|work=ignored (help) - ^ orimolade akindele (30 January 2015). close shaves. Frontpage Media. ISBN 9789784998611. Retrieved 15 October 2015.
{{cite book}}:|work=ignored (help) - ^ google books (1996). "west africa". Retrieved 15 November 2015.
{{cite web}}:|author=has generic name (help) - ^ Tony kingpresent (16 July 2013). your life of 2000 years on earth. Xlibris Corporation. ISBN 9781483662398. Retrieved 15 October 2015.
- ^ ifeoha azikwe (17 April 2013). Nigeria echo of a century. AuthorHouse. ISBN 9781481729291. Retrieved 15 November 2015.
{{cite book}}:|work=ignored (help) - ^ google book (2005). "business and maritime". Retrieved 15 November 2015.
{{cite web}}:|author=has generic name (help) - ^ Edigheji, Gabriel (29 June 2012). the entrepreneur magazine. Lulu.com. ISBN 9781105909320. Retrieved 15 November 2015.
{{cite book}}:|work=ignored (help) - ^ ogba ina obasi (October 2009). financial independence. Xulon Press. ISBN 9781615791071. Retrieved 15 November 2015.
- ^ dr.olukoya (21 October 2015). when your foundation needs healing. Mountain of Fire and Miracles Ministries. ISBN 9789789200665. Retrieved 15 November 2015.
- ^ "African concord". google book. December 1993. Retrieved 15 November 2015.