Nigeria imported N185.4bn used vehicles in Q3, 2021 

Nigeria is top importer of used vehicles from U.S. — UNEP

 

Nigeria imported used vehicles worth N185.4 billion in the third quarter of 2022, according to a report released by the office of the Statistician-General. 

The report titled ‘Foreign Trade in Goods Statistics for Quarter Three, 2021’ stated that Nigeria’s total merchandise trade rose to N13.3 trillion in Quarter Three of 2021, representing 10.43 per cent increase over N12.02 trillion recorded in Quarter Two.

It also stated that Nigeria spent a total of N601.51 billion on the importation of motor vehicles in the first half of the year.

This represents a 15% increase compared to N523.57 billion recorded in the corresponding period of 2020.

Nigeria is the African country importing the most used vehicles from the United States, and the third in the world, according to a report by the United Nations Environment Programme (UNEP), adding that Nigeria ranks just below the United Arab Emirates (UAE) and Mexico.

On the other hand, imports were mainly petrol valued at N1.05 trillion (12.91 per cent), durum wheat valued at N315.17 billion (3.87 per cent) and gas oil N225.63 billion (2.77 per cent).  

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