Nigeria’s automotive import sector has witnessed a significant rebound, with vehicle imports valued at over N1 trillion in the first nine months of 2025. According to data from the National Bureau of Statistics (NBS), this marks a notable recovery after previous declines caused by foreign exchange instability, high import duties, and government policy shifts.
The NBS trade report revealed that imported used vehicles, popularly known as Tokunbo cars, formed a major part of the total import bill. Analysts say the surge is driven by increased demand for personal mobility, improved access to forex for importers, and growing urbanization.
Industry experts noted that despite high tariffs and port charges, Nigerians continue to prefer imported vehicles due to the limited availability and high cost of locally assembled alternatives. Popular ports like Tin Can Island and Apapa saw increased activity, with clearing agents confirming a rise in shipments since Q2 2025.
However, stakeholders are raising concerns over the pressure this rebound may place on the nation’s foreign reserves. The Nigeria Customs Service (NCS) also confirmed increased revenue from duties and levies collected on car imports, contributing significantly to government coffers.
Economists suggest the rebound may be temporary if the naira weakens further or if the government reintroduces stricter import restrictions. Meanwhile, the federal government is being urged to intensify efforts to support local car manufacturing, improve transport infrastructure, and make credit facilities available for car buyers to ease dependence on imports.
The rebound signals renewed economic activity, but experts warn it may also expose Nigeria’s vulnerability to external economic pressures.
