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Nigeria’s $4.5 Billion Annual Vehicle Import Bill Highlights Urgent Need for Local Production

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Nigeria currently spends approximately $4.5 billion annually on vehicle imports, a figure that underscores massive unharnessed investment opportunities within the domestic automotive sector. Chibedu Oguegbu, Managing Director of Omma Automotive Company, disclosed this during a capacity-building workshop for the House of Representatives Press Corps in Abuja on Tuesday, February 24, 2026. Delivering a paper titled […]

NADDC Urges Tyre and Battery Import Ban to Save Nigeria N1 Trillion Annually

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The National Automotive Design and Development Council (NADDC) has called on the Federal Government to implement a comprehensive ban on the importation of vehicle tyres and batteries. This strategic recommendation is aimed at retaining approximately N1 trillion within the local economy—a sum currently lost to “capital flight” through the massive importation of automotive components. According […]