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Automotive Report Nigeria Product Image

Automotive Report Nigeria

  • ID: 2101560
  • July 2014
  • Region: Nigeria
  • 12 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 continue to rise during the forecast period (2014-18), reaching 42.4 per 1,000 people in 2018, although this still well below our 2018 forecast of almost 200 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 signifi-cantly higher, albeit still well below the ratio in more developed countries.

The government has sold most of its substantial shareholdings in domestic vehicle-production facilities, many of which have subsequently ceased production. The shareholders of those that survive are now multinational manufacturers and powerful local shareholder groups, many of which have good political connections.

National stakeholders, such as the National Automotive Council (NAC), are calling for financial assistance, tax breaks and protection for the national automotive sector. The government, which up until recently has been largely unwilling to intervene, has backed the Automotive Industry Development Plan (2013-24), developed by the NAC to boost local vehicle assembly and increase local content in the industry.

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

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

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