Nigeria's Passenger Car Imports Reach Record N527 Billion in Q3 2025

Nigeria's passenger car imports soared to a record N527 billion in Q3 2025, doubling from the previous year. The total imports for the first nine months of 2025 reached N1 trillion, with the country heavily reliant on foreign markets like the United States, Dubai, and South Africa.

Despite efforts to promote local vehicle assembly, Nigeria continues to import a significant portion of its passenger cars. The increase in imports is driven by exchange rate fluctuations and a weaker naira, impacting household purchasing power and inflation rates.