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Nigerians Reduce Consumption of Tokunbo Car Imports

By on May 21, 2012

According to data from the Nigerian Ports Authority (NPA), Nigerians are buying less used (Tokunbo) vehicles than they did in 2011.

The data from the vehicle imports table revealed that Nigerians imported an average of 6,666 new cars monthly in 2011 versus 4,000 new cars in 2012. Also the statistics showed 7,370 average monthly tokunbo imports in 2012 versus 16,666 in 2011.

This means Nigerians are importing 35% new cars monthly in their total monthly 2012 car imports as opposed to 29% monthly new car imports in 2011.

The sharp decrease in total car imports from 2011 (280,000) as against projected 2012 imports (136,440) may be attributable to the fact that 2011 was an election year and car imports experience a sharp increase in election years.