Inflation and Forex Shortages Cut Nigerian Car Imports by 14.3%
Consider the story of Nigeria's car import market, a tale of numbers and nuanced human behaviors. Historically, Nigerians have had a voracious appetite for used vehicles. According to estimates, a significant portion of cars arriving on Nigeria's shores are, indeed, used ones. Why, you might ask? The answer lies in a confluence of economic dynamics, policy shifts, and consumer demand that sway as unpredictably as a Lagos breeze.
Nigeria’s automobile lifeline spans continents. Cars pour in from the United States, Italy,…