Nigeria’s importation of passenger motor cars rebounded sharply in 2025, supported by improved stability in the foreign exchange market that eased pressure on vehicle dealers and buyers, according to official trade data.
Figures released by the National Bureau of Statistics show that the value of passenger car imports rose to ₦1.01 trillion in the first nine months of 2025, up from ₦894.09 billion in the same period a year earlier. The increase of ₦113.15 billion represents a year-on-year growth of about 12.7 per cent.
The data indicates that the recovery gathered pace only in the second half of the year, following a weak start driven by earlier currency volatility and higher landing costs.
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In the first quarter of 2025, passenger car imports were valued at ₦224.58 billion, down 5.9 per cent from ₦238.73 billion in the corresponding period of 2024. The second quarter also recorded a decline, with imports falling to ₦254.67 billion from ₦291.93 billion a year earlier, a contraction of nearly 13 per cent.
The trend reversed strongly in the third quarter. Between July and September, passenger car imports surged to ₦527.98 billion, compared with ₦363.42 billion in the same period of 2024 — an increase of about 45 per cent. The sharp rise more than offset the declines recorded in the first half of the year and drove the overall nine-month growth.
Country-level data shows the United States remained Nigeria’s largest source of imported passenger vehicles. In the first quarter of 2025, imports of used diesel and semi-diesel vehicles with engine capacity above 2,500cc from the US were valued at ₦93.51 billion. That figure rose to ₦99.18 billion in the second quarter and jumped to ₦184.21 billion in the third.
Additional imports from the US included vehicles with engine capacity between 1,500cc and 2,500cc valued at ₦38.15 billion in the third quarter alone.
South Africa was the second-largest source in the first half of the year, supplying vehicles valued at ₦25.84 billion in the first quarter and ₦21.43 billion in the second. Imports from other African countries, including Angola, Liberia and Equatorial Guinea, remained marginal.
The United Arab Emirates emerged as a notable source in the third quarter, with imports valued at ₦13.67 billion, alongside ₦12.68 billion worth of petrol-engine vehicles imported in completely knocked-down form.
Overall, vehicles traced to the United States were valued at about ₦415.05 billion in the first nine months of 2025, accounting for just over 41 per cent of Nigeria’s total passenger car imports during the period. South Africa accounted for about ₦47.27 billion, or 4.7 per cent, while the UAE contributed roughly ₦26.35 billion, representing 2.6 per cent.
While imports in the first half of 2025 were ₦51.41 billion lower than in the same period of 2024, the strong rebound in the third quarter — which exceeded its 2024 equivalent by ₦164.56 billion — pushed total imports for the nine-month period firmly higher.