By Favour Pius
Nigeria’s import bill for transport equipment surged to about N6.54 trillion, driven largely by rising demand for passenger vehicles and other mobility assets, highlighting the country’s growing reliance on imported transport infrastructure amid limited local manufacturing capacity.
Latest trade data from the National Bureau of Statistics (NBS) show that passenger vehicles accounted for the largest share of transport equipment imports, reflecting strong consumer demand and increased fleet acquisition by businesses and transport operators.
Industry analysts say the spike underscores the persistent gap between Nigeria’s vehicle demand and domestic production capacity, forcing individuals and companies to depend heavily on imports to meet mobility and logistics needs.
The data also indicate that the rising import value was influenced by currency pressures and higher global vehicle prices, which have pushed up the naira cost of imported automobiles and related equipment.
Automotive sector stakeholders say the dominance of passenger vehicles in the import mix highlights the growing expansion of ride-hailing services, corporate fleet operations and inter-city transport businesses across the country.
A Lagos-based automobile industry analyst noted that Nigeria’s vehicle market remains largely import-dependent despite policy efforts to promote local assembly.
“Demand for vehicles continues to rise as urbanisation and economic activities expand, but local production is still limited. As a result, most of the demand is being met through imports,” the analyst said.
The increase in transport equipment imports also reflects higher acquisition of commercial vehicles used in logistics, haulage and distribution services, sectors that have grown significantly with the expansion of e-commerce and retail trade.
Stakeholders in the automotive sector say the trend reinforces the need to strengthen local vehicle assembly plants under the National Automotive Industry Development Plan to reduce dependence on imports and stimulate domestic manufacturing.
Industry players argue that improving access to financing, stable policies and stronger supply chains will be critical to boosting local vehicle assembly and attracting more investment into Nigeria’s automotive industry.
They also note that rising import volumes could continue to exert pressure on Nigeria’s foreign exchange reserves if local production capacity does not expand significantly in the coming years.
Despite these concerns, analysts say the growing demand for passenger vehicles reflects the expansion of economic activities and rising mobility needs in Africa’s most populous country.
They add that if local manufacturing policies are effectively implemented, Nigeria could gradually transition from a major vehicle importer to a regional hub for automobile assembly and distribution.
