Nigerians import few cars as inflation, FX woes bite
Nigerians imported fewer passenger cars in 2024 as rising inflation and naira depreciation made foreign exchange more expensive, increasing vehicle costs. According to the National Bureau of Statistics, the total value of passenger car imports fell by 14.3% to N1.26 trillion in 2024, down from N1.47 trillion in 2023. The drop in car imports came […]