Nigeria imported motor vehicles and parts worth $518 million (about ₦799 billion at the official exchange rate) from the United States between January and June 2025, according to fresh data from the US Census Bureau and the Bureau of Economic Analysis.
The figures showed that passenger cars accounted for the lion’s share of the inflows, with $379m, representing 73 per cent of total imports in the period under review. Vehicle parts followed with $104m (20 per cent), while trucks, buses and special-purpose vehicles gulped $35m (7 per cent).
A breakdown revealed that imports remained relatively steady in the second quarter, with Nigeria taking delivery of $95m worth of vehicles and parts in May and $92m in June.
Passenger car shipments slipped slightly from $70m in May to $67m in June, while vehicle parts also dipped from $19m to $18m.
At the current monthly average of $86m, analysts project that Nigeria could cross the $1bn mark in vehicle imports from the US by the end of 2025.
The report underscores Nigeria’s overwhelming dependence on fully built-up vehicles as against auto components.
Unlike South Africa, which imported $525m worth of vehicles and parts from the US during the same period—with 82 per cent ($431m) made up of parts to service its domestic assembly plants—Nigeria’s car imports were more than six times larger, while its parts imports were only a quarter of South Africa’s.
South Africa’s imports, however, fell sharply from $143m in May to $80m in June, driven largely by reduced parts shipments.
Nigeria’s figures dipped only marginally by 3.2 per cent in the same period, suggesting more consistent retail demand despite economic pressures.
Analysts note that the trend highlights the country’s weak automobile assembly capacity, forcing importers and consumers to rely on new and used cars shipped directly from foreign ports.
This reliance also puts pressure on Nigeria’s foreign exchange reserves, as the sector remains heavily dollar-dependent.
Trucks and buses, though relatively modest at $35m, are considered vital for Nigeria’s transport, logistics and construction industries.
Earlier this year, a National Bureau of Statistics report revealed that the total value of passenger car imports into Nigeria declined by 14.3 per cent to ₦1.26 trillion in 2024, down from ₦1.47 trillion in 2023.
The drop was largely attributed to inflation and naira depreciation, which made vehicle imports costlier for both businesses and individuals.
Despite that slowdown in 2024, the latest half-year figures suggest that Nigerians are once again ramping up foreign vehicle purchases, raising concerns over the future of local automobile manufacturing and the country’s widening trade imbalance.
Source: The Punch
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