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Automotive Report Nigeria

  • ID: 2101560
  • January 2015
  • Region: Nigeria
  • 24 Pages
  • The Economist Intelligence Unit

The local car market is fairly large by developing African standards but tiny compared with those outside the continent. The Economist Intelligence Unit expects car ownership to rise to 43.9 per 1,000 people in 2018, although this still well below our 2019 forecast of 201 for the more developed market of South Africa. However, the Nigerian number fails to capture second-hand cars imported through the black market, and so actual car ownership is likely to be significantly higher, albeit still well below the ratio in more developed countries.

The only major domestic producer of passenger vehicles is Peugeot Automobile Nigeria (PAN), in Kaduna, which also has a large retail network. However, the harsh local business environment, primarily poor infrastructure such as power supply, has restrained production at PAN to around 3,000 units a year despite production capacity estimated at 7,000 units a year.

The government's Automotive Industry Development Plan (2013-24) aims to encourage international automakers to invest in Nigeria's vehicle assembly sector to enable the country to conserve foreign exchange, generate jobs and acquire technological know-how. The plan includes fiscal incentives, the establishment of automotive supplier parks and facilitating skills development.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles
Industry Codes (NAIC): 336
Industry Codes (SIC): 37

Note: Product cover images may vary from those shown

Automotive Report Nigeria

Automotive report

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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