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Here are 7 recent facts about vehicle importation in Nigeria according to the National Automotive Design and Development Council (NADDC).
- In 2015 Nigeria imported about 400, 000 vehicles valued at $4.2 billion.
- Of the 400,000 vehicles, 100, 000 are new while 300,000 are used vehicles.
- Nigeria imported about 300,000 vehicles in 2016.
- Local vehicle production capacity is an estimated 300,000 per year
- However, utilisation is currently at about 15 per cent of installed capacity
- This means about 45,000 vehicles were produced
- Nigeria has an estimated 14 million cars in the country.