Automotive Report Nigeria

  • ID: 2101560
  • July 2015
  • Region: Nigeria
  • 12 Pages
  • The Economist Intelligence Unit
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The local car market is large by developing African standards but tiny compared with markets outside the continent. The Economist Intelligence Unit expects the car ownership rate to rise by more than a quarter by 2019, to 43.2 per 1,000 people, but it will remain substantially below our 2019 forecast for South Africa. However, since second-hand cars imported through the black market do not appear in these data, actual car ownership is likely to be much higher, albeit still only a fraction of the ratio in more developed countries.

Peugeot Automobile Nigeria (PAN), a unit of PSA Peugeot Citroën (France), used to be the only major domestic producer of passenger vehicles. But the Automotive Industry Development Plan (2013-24), which was approved by the previous government headed by the president, Goodluck Jonathan, has encouraged foreign carmakers to establish local production plants.

The development plan aims to attract foreign investment in order to generate jobs, acquire technological know-how and conserve foreign exchange. The plan includes fiscal incentives, the establishment of automotive supplier parks and the promotion of skills development. The government wants to create 70,000 skilled jobs directly, with more than 200,000 of indirect employment stemming from the plan.

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
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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
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Note: Product cover images may vary from those shown


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