Foreign exchange stability drives recovery in vehicle trade
Nigeria’s passenger car imports surged in 2025, reaching ₦1.01 trillion in value—a sharp rebound from the previous year. The recovery was fueled by improved foreign exchange conditions, which eased pressure on dealers and buyers.
According to trade data, the rebound gained momentum in the second half of the year after a slow start caused by currency volatility and high landing costs.
The National Bureau of Statistics reported a 12.7% year-on-year increase, signaling renewed confidence in Nigeria’s automotive market.
Industry experts attribute the growth to better access to foreign currency, stabilized import procedures, and rising consumer demand. Despite inflation and economic challenges, Nigerians continue to prioritize vehicle ownership for mobility and business.
This rebound highlights the resilience of Nigeria’s auto sector and its ability to adapt to shifting macroeconomic conditions. As trade structures evolve, the country remains a key player in Africa’s vehicle import landscape.
