Nigeria's Car Imports Surge to N633bn in H1 2026

In the first half of 2026, Nigeria's car import expenditure rose to N633.21 billion, marking a 31% increase from N484.61 billion in the second half of 2025 and more than doubling from N263.46 billion in the first half of 2025, according to the National Bureau of Statistics (NBS). The first quarter of 2026 saw N284 billion spent on car imports, which increased to N349.14 billion in the second quarter, reflecting a 23% rise.

Despite this, the total for the first half of 2026 was N114.86 billion lower than the N748.07 billion spent throughout 2025. The NBS report indicated that N491.52 billion of the imports were used vehicles, primarily from the US, followed by Canada, the UAE, China, Belgium, and Italy.

The increase in imports is linked to reduced import levies under the 2026 Fiscal Policy Measures, which cut tariffs on new vehicles from 20% to 10% and on used vehicles from 15% to 5%, potentially making vehicles more affordable for Nigerian consumers.