Nigeria’s Vehicle Imports Surge 146% to ₦1.18tn in H1 2026 as Transport Import Bill Soars

Nigeria’s appetite for imported vehicles has accelerated dramatically, with the country spending ₦1.18 trillion on passenger motor car imports during the first six months of 2026, a 145.6 per cent increase compared with the ₦479.26 billion recorded in the same period last year.

The latest figures, derived from the National Bureau of Statistics (NBS) first and second quarter Foreign Trade Statistics, show that the surge in passenger vehicles was the single biggest driver of a broader rise in transport-related imports. Overall, Nigeria imported ₦3.73 trillion worth of transport equipment and parts between January and June, up 44.2 per cent from ₦2.59 trillion in the corresponding period of 2025.

The growth was sustained across both quarters of the year. Passenger motor car imports rose from ₦552.34 billion in the first quarter to ₦624.75 billion in the second, suggesting that demand remained strong rather than being driven by a one-off spike in imports.

Beyond passenger cars, other transport equipment accounted for ₦1.83 trillion of the total import bill, rising from ₦1.36 trillion a year earlier. Industrial transport equipment recorded the strongest expansion, climbing to ₦1.39 trillion, while non-industrial transport equipment also posted steady growth.

Interestingly, the trend did not extend to spare parts. Imports of transport parts and accessories fell 4.4 per cent to ₦722.59 billion, indicating that the surge in the transport import bill was driven primarily by complete vehicles and heavy transport equipment rather than replacement components.

The figures come as the Federal Government continues to pursue policies aimed at reducing transportation costs and encouraging cleaner mobility. Earlier this year, authorities introduced import duty waivers for electric vehicles, mass transit buses and selected manufacturing machinery, while also expanding the Presidential Compressed Natural Gas (CNG) Initiative to promote cheaper alternatives to petrol-powered transport.

Industry analysts say the increase reflects a combination of resilient consumer demand, commercial transportation needs and importers taking advantage of relatively improved foreign exchange stability. However, they also warn that Nigeria’s continued dependence on imported vehicles places sustained pressure on foreign exchange demand and exposes consumers to fluctuations in global shipping and currency markets.

Despite ongoing investment in local automobile assembly and alternative-fuel infrastructure, imported vehicles continue to dominate Nigeria’s market. The latest trade data underscores the scale of that dependence, and the challenge facing policymakers as they seek to balance immediate transport demand with the long-term goal of building a competitive domestic automotive industry.