Import bill on used vehicles in Nigeria drops by 83% …C0NTINUE READING HERE >>>
Imports bill on used vehicles (Tokunbo) in Nigeria dropped by 83 percent to N138.62 billion in the first half of 2024 compared to N819.15 billion the corresponding period in 2023.
This is according to the National Bureau of Statistics, NBS, Commodity Price Indices and Terms of Trade Data.
The data showed that in Q2 2024, the value of imported used vehicles stood at N138.62 billion, representing an 81.5 percent decline on a year-on-year basis from N749.92 billion in Q2 2023.
Further analysis of the data indicated that the used vehicles were imported mainly from the United States of…
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