Nigeria vehicle imports surge 146% to ₦1.18tn in H1 2026

Nigeria’s imports of passenger motor vehicles surged by 145.6 per cent year-on-year to ₦1.18 trillion in the first half of 2026, according to data from the National Bureau of Statistics. This sharp increase contributed to a broader rise in the country’s transport equipment import bill, which reached ₦3.73 trillion during the same six-month period, up 44.2 per cent from 2025.

While the Federal Government implemented fiscal policy measures in 2026 to reduce tariffs on fully built passenger vehicles from 70% to 40% and lowered import levies on new and used vehicles, industry operators expressed caution. Importers noted that lower statutory charges may not be sufficient to drive more business to Lagos ports due to persistent challenges.

Key concerns cited by industry stakeholders include high clearance costs, port bottlenecks, lengthy processing times, and additional expenses such as storage, terminal handling, and demurrage. Importers often weigh the total cost of logistics against customs duties when deciding whether to route cargo through Nigerian ports or neighboring alternatives.