• Politics
  • National
  • World
  • Entertainment
  • Health
  • Nigeria
Sunday, August 2, 2026
NewsVelocityNG - Nigeria Breaking News, Politics & Sports
No Result
View All Result
  • Politics
  • National
  • World
  • Entertainment
  • Health
  • Nigeria
  • Politics
  • National
  • World
  • Entertainment
  • Health
  • Nigeria
No Result
View All Result
Morning News
No Result
View All Result
  • Politics
  • National
  • World
  • Entertainment
  • Health
  • Nigeria
Home Business

Nigeria’s Used Vehicle Imports Surge 92% to N249.84bn Despite Tougher FG Rules

Nigeria imported N249.84 billion worth of used vehicles in the first quarter of 2026, with the United States accounting for more than 87% of total imports, even as the Federal Government introduced stricter certification requirements for imported vehicles.

Joseph Bankole Johnson by Joseph Bankole Johnson
June 14, 2026
in Business, Nigeria
Reading Time: 3 mins read
A A
0
surge
Share on Facebook

Nigeria’s importation of used vehicles surged by 91.92% to N249.84 billion in the first quarter of 2026, even as the federal government rolled out a stricter certification regime designed to tighten controls on vehicle imports and curb the influx of substandard automobiles.

Data from the National Bureau of Statistics’ Foreign Trade in Goods Statistics for Q1 2026 showed that imports of used vehicles with diesel or semi-diesel engines above 2,500cc rose sharply from N113.36 billion recorded in the corresponding period of 2025 to N249.84 billion in the first three months of this year.

The figures highlight sustained demand for imported vehicles, commonly known as “Tokunbo” cars, despite economic pressures and new regulatory requirements introduced by the government.

READ ALSO

Africa

AfCFTA chief urges Africa to prioritize value addition over raw material exports

August 1, 2026
diri

Diri Pays Condolence Visit to Late Ex-Minister Turner Isoun’s Family, Hails His Legacy

August 1, 2026
Alabi

BREAKING: Veteran Journalist, Ibadan Chief Lekan Alabi Dies at 76

August 1, 2026
Service

Group Urges FG to Accelerate Automation of Federal Civil Service, Expand Digital Governance

August 1, 2026

An analysis of the trade data showed that the United States remained Nigeria’s largest source of used vehicle imports during the period, accounting for N217.56 billion worth of shipments, representing about 87.1 percent of the total value imported in the quarter.

The United Arab Emirates followed with N10.32 billion, while Canada accounted for N8.72 billion. Imports from Italy stood at N6.64 billion, while China supplied vehicles valued at N6.60 billion.

Compared with the same period in 2025, imports from the United States increased by 132.67 per cent, rising from N93.51 billion to N217.56 billion. Imports from the UAE also grew by 21.65 percent, from N8.48 billion to N10.32 billion.

The latest figures suggest that the United States has further strengthened its grip on Nigeria’s used vehicle market. In Q1 2026, the value of vehicles imported from the US was about 6.7 times the combined value of imports from all other countries, compared with 4.7 times in the corresponding period of last year.

The NBS report also showed that imports of passenger motor cars under the Broad Economic Categories classification climbed by 145.94 per cent year-on-year to N552.34 billion in Q1 2026 from N224.58 billion recorded in the same period of 2025.

The rise in vehicle imports comes barely months after the federal government launched the Standard Organisation of Nigeria–National Automotive Design and Development Council Vehicle Conformity Assessment Programme, a new framework that makes certification compulsory for all imported vehicles.

The programme, unveiled in Abuja on March 31, requires all new and used vehicles entering Nigeria to obtain pre-shipment certification before Form M approval, customs valuation, PAAR processing, import clearance, and market entry.

Speaking at the launch, the minister of state for industry, trade, and investment, Senator John Enoh, said the policy had become an official government framework rather than a pilot program.

“This is not a proposal or a pilot. This has become government policy,” Enoh said, adding that all imported vehicles must secure certification before entering the Nigerian market.

The government has maintained that the new regime is intended to prevent the importation of unsafe, accident-damaged, and environmentally non-compliant vehicles. director-general Earlier in the year, the director-general of the National Automotive Design and Development Council, Joseph Osanipin, disclosed that the government was moving to regulate vehicle importation and automobile dealerships nationwide as part of efforts to reduce the inflow of condemned and accident-prone vehicles into the country.

The latest trade figures indicate that demand for imported vehicles has remained resilient despite the tighter regulatory environment, underscoring the continued dependence of Nigeria’s automotive market on foreign-sourced vehicles.

Tags: imported vehiclesNational Bureau of StatisticsNBSNigeriaTokunbo carsused vehicle importsvehicle importation
ShareTweetSendShare
Joseph Bankole Johnson

Joseph Bankole Johnson

Related Posts

Africa
Business

AfCFTA chief urges Africa to prioritize value addition over raw material exports

August 1, 2026
diri
National

Diri Pays Condolence Visit to Late Ex-Minister Turner Isoun’s Family, Hails His Legacy

August 1, 2026
Alabi
National

BREAKING: Veteran Journalist, Ibadan Chief Lekan Alabi Dies at 76

August 1, 2026
Service
National

Group Urges FG to Accelerate Automation of Federal Civil Service, Expand Digital Governance

August 1, 2026
20
National

INEC Displays Tinubu, Shettima’s Credentials Ahead of 2027 Elections

August 1, 2026
Africa
Entertainment

South Africa Denies Ayra Starr Visa Rejection as Tyla Drops Lagos Concert Amid Nigeria Diplomatic Row

August 1, 2026
Next Post
FAAC

FAAC meeting in Abuja with officials from the Federal Government, states and local governments seated around a conference table

Deregister

Court Orders INEC to Deregister ADC, Accord and Three Other Political Parties

court

ADC Rejects Court Order Directing Its Deregistration, Vows Appeal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

JAMB

JAMB debunks fake 394 UTME result circulating online

April 26, 2026
NULGE Oyo state

OYO NULGE : IGE, WOLEKANLE, RAD, OTHERS EULOGIZE GOV MAKINDE’ S WORKERS’ FRIENDLY POLICIES

April 29, 2026
Makinde

Makinde Confirms Arrest Of 9 Suspects In Oyo School Kidnapping Case

May 18, 2026
Oke-Ogun

ODCF Moves to Calm Tension Over Alleged Rift Among Oke-Ogun Monarchs

May 15, 2026
Yobe

Yobe Airstrike: Over 100 Feared Dead After Military Jet Hits Jilli Market

May 6, 2026
Africa
Business

AfCFTA chief urges Africa to prioritize value addition over raw material exports

by Joseph Bankole Johnson
August 1, 2026
0

Africa must shift from exporting raw materials to processing and adding value to its natural resources if it is to...

diri

Diri Pays Condolence Visit to Late Ex-Minister Turner Isoun’s Family, Hails His Legacy

August 1, 2026
Alabi

BREAKING: Veteran Journalist, Ibadan Chief Lekan Alabi Dies at 76

August 1, 2026
Service

Group Urges FG to Accelerate Automation of Federal Civil Service, Expand Digital Governance

August 1, 2026
20

INEC Displays Tinubu, Shettima’s Credentials Ahead of 2027 Elections

August 1, 2026
Court

Peru’s Ex-President Ollanta Humala Released After Court Overturns 15-Year Corruption Sentence

August 1, 2026
Africa
Business

AfCFTA chief urges Africa to prioritize value addition over raw material exports

August 1, 2026
diri
National

Diri Pays Condolence Visit to Late Ex-Minister Turner Isoun’s Family, Hails His Legacy

August 1, 2026
Alabi
National

BREAKING: Veteran Journalist, Ibadan Chief Lekan Alabi Dies at 76

August 1, 2026
Service
National

Group Urges FG to Accelerate Automation of Federal Civil Service, Expand Digital Governance

August 1, 2026
20
National

INEC Displays Tinubu, Shettima’s Credentials Ahead of 2027 Elections

August 1, 2026
Court
World

Peru’s Ex-President Ollanta Humala Released After Court Overturns 15-Year Corruption Sentence

August 1, 2026

EDITOR'S PICK

may 4

Court adjourns Emefiele trial, fixes May 4 for ruling on disputed statement

May 6, 2026
custom

Kirikiri Customs Seizes Expired Vapes Worth N809.6m, Revenue Jumps 35%

July 31, 2026
Oyo

CDS deploys surveillance aircraft, special forces after Oyo kidnapping surge

May 27, 2026
ICT

UNILAG student Peter Fagbola leads Team Nigeria to victory at Huawei Global ICT Competition in China

July 31, 2026

About

Follow us

Categories

  • Business
  • Crime
  • Education
  • Entertainment
  • Health
  • National
  • Nigeria
  • Politics
  • Religion
  • Security
  • sport
  • Sport, World,
  • Technology
  • War
  • World

Recent Posts

  • AfCFTA chief urges Africa to prioritize value addition over raw material exports August 1, 2026
  • Diri Pays Condolence Visit to Late Ex-Minister Turner Isoun’s Family, Hails His Legacy August 1, 2026
  • BREAKING: Veteran Journalist, Ibadan Chief Lekan Alabi Dies at 76 August 1, 2026
  • Group Urges FG to Accelerate Automation of Federal Civil Service, Expand Digital Governance August 1, 2026
No Result
View All Result
  • Homepages
    • Home Page 1
  • Politics
  • National
  • Business
  • World
  • Entertainment
  • Health

© 2026 Newsveolcityng - Fast Fresh and Premium News by Newsvelocityng