Monday 5 February 2024

DEMAND FOR ARMORED CARS IS GROWING, AND DEALERS ARE COMPLAINING ABOUT THE CURRENCY CRISIS.



Very Important People and other affluent Nigerians are calling for more bulletproof cars in light of the nationwide kidnapping wave, The PUNCH can reveal.


Dealers of armored vehicles, who were contacted by The PUNCH, said that since the abduction crisis grew, their sales of specially designed, bulletproof sport utility vehicles have soared.


Armed gangs that operate out of different woodlands have been infiltrating large cities and urban areas in recent weeks, robbing people of their lives and demanding absurd ransoms.

The situation has forced victims and abductee families to crowdfund for ransom from friends, family, and social media, despite the Federal Government and police warning that this will make the kidnapping-for-ransom problem worse.

According to armored vehicle manufacturers, wealthy and well-known people have increased the security of their families and themselves with customized cars.

Speaking about the demand from VIPs for armored cars, Mr. Haresh Jethmalanito, Sales Manager at Inkas Armoured Vehicle Manufacturing Nigeria, claimed that the market for armored cars was booming and that dealers were doing a brisk business.

Since the beginning of the year, Jethmalanito claimed that his company has experienced an overwhelming demand for armored cars, which he linked to the nation's escalating levels of insecurity.

But he bemoaned the fact that his business had been negatively impacted by hefty customs charges and volatile foreign exchange rates.

"The demand for armored vehicles has increased by multiple folds," stated Jethmalanito. The increased demand has also resulted in higher pricing. Foreign exchange rates and customs charges have also been significant problems for us. They are a big factor in the fact that I am unable to identify our clientele.

"I am unable to disclose the amount we have been selling them as well.  However, I can say that the current state of affairs in the nation has led to a rise in the demand for automobiles.

The demand for armored vehicles has surged, as stated by Mark Burton, President of Armor Max Vehicles.

He mentioned that the cost of the vehicles and armor varies from $35,000 to $90,000.

"There has been a lot of demand," Burton stated. The money has been our biggest obstacle. Most of the time, clients spend between $35,000 and $90,000 on the vehicle and armoring.  Nigeria imports our armoring supplies. The difficulties with the naira to dollar have led to significant cost increases.

"It was N300 to $1 when we first started developing (our company) in Nigeria. It is currently over N1,400 to $1. However, the demand for our products has been fueled by violence and insecurity. Because of its success, Armormax Nigeria has expanded to include Ghana and Cameroon.

Tonye Edwin, the Managing Director of Globaton Services Ltd., reported that his organization saw an increase in demand for armored cars in December.

He added that their prices had gone up as a result of the spike in demand.

Edwin stated, "I haven't been getting clients like that in January and February. However, we received a lot of requests from Nigerians in December, before to the holiday season, particularly from those who were visiting the South-East. The price of these vehicles soared as a result of the increased demand.
The Nigerian Communications Commission has promised to assist the security services in combating the nationwide kidnappings as a response to the security threat.


During a Monday interactive discussion in Abuja with editors and bureau chiefs, NCC Vice Chairman Aminu Maida clarified that the commission will improve the security agencies' capacity to employ technology to handle kidnappings.

Maida responded, "Security is one area we need to be careful of because I am part of the enabler. What I can guarantee is that we will continue to work closely with the security agencies and other sister agencies to ensure the capabilities to help the security agencies face and tackle the challenges out there." When asked why the security agencies were not successfully using the SIM-NIN linkage to track and apprehend kidnappers who negotiate for ransom with the families of abducted persons over the phone.

Maida promised to punish telecom companies and those who illegally register SIM cards.

It's a cat and mouse game, he said, but the sanctions are in place, and we're currently imposing penalties on some of the people found to be responsible for these actions.

Recently appointed by President Bola Tinubu, Maida outlined his plans for the NCC, saying the organization would implement the appropriate laws to restructure the telecom sector.

He clarified that the NCC would concentrate on corporate governance of the telecommunications industry and that it would handle data security breaches, SIM card hijacking, and unlawful reallocation.

"We are going to take matters to a different level, so we are going to start with collaborations and hopefully get a win-win for both sides," he continued. All of these encourage us to take greater initiative in order to spot trends, but as things stand right now, we only observe second-level concerns.

"They are the ones that made the effort to see us. We intend to enter the operators' systems and view all stereotypes, allowing us to independently analyze and pose those probing questions to them on a weekly or monthly basis.




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