Headlines
Nigerians spend N1.632 trillion on Tokunbo vehicle imports in 2020

Despite the Coronavirus challenges, no fewer than 1.03million used vehicles valued at $3.4billion ( N1.632trillion) were imported into the country in 2020.
Data by the International Trade Administration (ITA) explained that the United States exported more than 500,000 units into the country in the period under review.
It was learnt that automobile importers have shifted importation of used vehicles from Europe to America and India since 2017.
It was gathered that United States vehicle specifications are more in line with the demand and taste of Nigerian consumers which is not always met by entry-level models from Europe.
Meanwhile, data from the Nigerian Ports Authority (NPA)’s shipping position revealed that a total of 2,900 units of used vehicles would be off-loaded at the Port and Terminal Multi-services Limited (PTML), Tin Can Island Port.
They were ferried by eight vessels with Grande Cameroon leading with 450units; Grande Lagos, 300units; Grand Mercury, 250units; Grande Congo, 350 units; Grande Costa D”avorio, 350units; Gral. Sal Martin, 400 units; Grande Sierra Leone, 400units and Grande Luanda, 400units,
However, 2,200 units were offloaded in February 2021 by Grande Tema with 400 units; Grande Dakar, 400units; Grande Abidjan, 400units and Grande Senegal, 300 units, Grande Lagos, 400 units and Grande Argentina, 300units.
Others are Ford Edge 2007, N900,000; Ford Focus 2012, N1,400,000; Hyundai Elantra 2013 – 2016, N1,3million; Hyundai Sonata, N350,000; Kia Optima 2012,N1.2million; Kia Spectra, N500,000; Land Rover R/Sport 2006, N1.5million; Lexus RX 300, N420,000 and Mazda 3 SV, N2million.
Data by Deloitte revealed that the number of vehicles in the country has surge from1.34million in 2015 to 1.62million in 2019.
Until 2014, the market grew steady, hitting the 57.000 units record for new vehicles as the domestic market collapsed to 11.743 units in 2017 due to the deep economic crisis generated by poor domestic demand.
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