NIGERIA SPENDS N1.08 TRILLION ON THE YEARLY IMPORTATION OF USED CARS AND MOTORBIKES

, Magazine

Data obtained from the National Bureau of Statistics (NBS) shows that Nigeria spent a whooping sum of N1.08 trillion to import used cars (popularly called Tokunbo) and motorcycles (Okada) in one year (October 2018 – September 2019).

According to the various NBS reports gathered, used cars and motorcycle importation into Nigeria rose from N252.3 billion in Q4 2018 to N301.8 billion in Q3 2019.