Business 7 New Facts About Vehicle Importation, Production in Nigeria

[LequteMan]

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.