Within a nine-month period covering January to September this year, Nigerians spent about N509.8bn importing used vehicles into the country.
The figure was arrived based on an analysis of the foreign trade in good statistics obtained from the National Bureau of Statistics.
According to the trade statistics showed that in the first quarter of this year, Nigerians imported used cars worth N148.28bn.
The Chief Executive Officer, Stallion Group, Mr. Anant Badjatya, said the inability of Nigerians to buy new vehicles was worrisome. He further said as of 2018, only 10,000 new vehicles with a total value of N4bn were sold in Nigeria.
He then, commended the Federal Government for the closure of the border, adding that the move would have a significant impact on the auto industry. He said, “We have 200 million people in Nigeria buying 10,000 new cars in a year. This is an embarrassment.
Within a nine-month period covering January to September this year, Nigerians spent about N509.8bn importing used vehicles into the country.
The figure was arrived based on an analysis of the foreign trade in good statistics obtained from the National Bureau of Statistics.
According to the trade statistics showed that in the first quarter of this year, Nigerians imported used cars worth N148.28bn.
The Chief Executive Officer, Stallion Group, Mr. Anant Badjatya, said the inability of Nigerians to buy new vehicles was worrisome. He further said as of 2018, only 10,000 new vehicles with a total value of N4bn were sold in Nigeria.
He then, commended the Federal Government for the closure of the border, adding that the move would have a significant impact on the auto industry. He said, “We have 200 million people in Nigeria buying 10,000 new cars in a year. This is an embarrassment.
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