AU­TO­MO­TIVE

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The Nige­rian mar­ket for automobile in sub­stan­tial and can read­ily sus­tain an automobile in­dus­try. In 2012, the coun­try im­ported about $4 bil­lion worth of au­to­mo­biles of which about two thirds were pre-owned (UNCTAD). A grow­ing mid­dle class (40 mil­lion with a po­ten­tial mar­ket of 1 mil­lion ve­hi­cles an­nu­ally). An­nual spend­ing ve­hi­cles im­port is over $3.5bil­lion and still grow­ing. Re­gional ex­port po­ten­tial into the West (ECOWAS) and cen­tral African mar­kets. Indige­nous ve­hi­cle man­u­fac­tur­ing com­pany is In­no­son Mo­tors, which man­u­fac­tures SUV, Tran­sit Buses and Trucks. There is Pres­ence of Nis­san, Volk­swa­gen, Toy­ota and KIA etc, in the automobile in­dus­try.

Source: NIPC

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