Car Imports Rebound, Hit N1tn Mark
Wellington Jopelo
Nigeria’s importation of passenger cars recorded a strong rebound in 2025, hitting over N1 trillion within the first nine months of the year. Data from the National Bureau of Statistics shows that improved stability in the foreign exchange market helped ease pressure on car dealers and buyers.
Figures indicate that passenger motor car imports were valued at N1.01 trillion between January and September 2025, up from N894.09 billion recorded during the same period in 2024. This represents an increase of about N113 billion, signalling a recovery after months of weak demand caused by currency fluctuations and high import costs.
The rebound, however, did not happen evenly throughout the year. Import activity remained weak in the first half of 2025 before rising sharply in the third quarter, which ultimately pushed the nine-month figures higher.
In the first quarter of the year, passenger car imports dropped to N224.58 billion from N238.73 billion in the same period of 2024. This decline showed that importers were still adjusting to the lingering effects of earlier exchange rate instability.
The slowdown continued into the second quarter, with imports valued at N254.67 billion, compared with N291.93 billion a year earlier. Although foreign exchange availability improved slightly, many dealers remained cautious.
A sharp turnaround emerged in the third quarter. Between July and September 2025, car imports surged to N527.98 billion, up from N363.42 billion in the same period of 2024. This single quarter more than made up for losses recorded earlier in the year.
Country-level data shows that the United States remained Nigeria’s biggest source of passenger vehicles. In the first nine months of 2025, vehicles imported from the US were valued at about N415.05 billion, accounting for over 41 per cent of total passenger car imports.
South Africa followed at a much lower level, with imports worth N47.27 billion, while the United Arab Emirates gained prominence in the third quarter with imports valued at N26.35 billion.
Overall, the data shows that although car imports fell by more than N51 billion in the first half of 2025 compared with 2024, the strong surge in the third quarter reversed the trend, pushing total imports higher by over N113 billion at the end of nine months.