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Nigeria spends more than $5 billion annually on imported automotive spare parts

The Nigerian automotive market is projected to be worth $27.7billion by 2030, an annual growth rate of 5% from 2025.

An astounding 60% of cars in Nigeria's roads are more than 10 years old. It is estimated that used cars outnumber new cars by 131 to 1 on the road.

It is estimated that there are around 16 million vehicles on the road in West Africa, with Nigeria accounting for approximately 75% of the market, representing around 12 million vehicles.

Major Product Segments

Oils & Lubricants

$1.2 bn

Spare Parts

$6.2 bn

Finished Vehicles

$1.18 bn

Tyre

$540 Mill

Batteries

$180 Mill

 

By Countries

Nigerian GDP: $285 Billion
Projected GDP growth rate: 4.3% (2026)
Nigerian Population: 237 million (2025)
Vehicles on the road: 12 million (2025)
  • Nigeria's EV market is expected to grow at roughly 6.8% annually from 2025-2031, mainly in two wheeler vehicles
  • Nigeria’s two-wheeler market, valued at $1.06 billion, is projected to reach $1.65 billion by 2030, driven by demand for transport, delivery services and logistics The Compressed Natural Gas (CNG) market is one of the fastest-growing alternative fuel segments, with 100,000 vehicles converted and a government-backed target of 1 million CNG vehicles by 2027.
  • Limited local manufacturing capacity continues to drive Nigeria’s reliance on imported vehicles and components, with total automotive imports estimated at $5 billion in 2025, with key supply markets including China, the USA, Japan, India, and the UAE.
  • Key trading hubs such as ASPMDA and Ladipo are at the heart of Nigeria’s automotive supply chain, enabling high-volume distribution across the country and the African continent.
  • Ghana’s automotive market was valued at approximately $1.96 billion in 2025, driven by strong demand for used vehicle imports, with projections suggesting growth to $2.12 billion by 2030.
  • Ghana’s vehicle fleet averages 14–16 years old, driving frequent repairs and sustained demand across the automotive aftermarket.
  • Similar to Nigeria, the local government (Ghanaian Automotive Department Policy - GADP) are accelerating local vehicle assembly in Ghana, creating new opportunities for OEMs and component suppliers, however, imported vehicles and parts remain the primary source of supply, sustaining strong demand across the aftermarket.
Ghana GDP: $111.96 Billion
Projected GDP growth rate: 4.8% (2026)
Ghana Population: 34 million (2025)
Vehicles on the road: 3.5 million (2025)