Nigeria’s Vehicle Sales Projected to Grow by 7.6% in 2026
Nigeria’s new vehicle sales are projected to increase by 7.6 per cent in 2026, according to the latest Sub-Saharan Africa Autos Report by BMI.The report attributes the expected growth to improved fuel supply following the full operation of the Dangote Petroleum Refinery, easing inflation and government incentives designed to support the automotive sector, including electric vehicle adoption.
Analysts said enhanced local fuel availability could reduce dependence on imported petroleum products and support consumer purchasing power, encouraging more Nigerians to purchase new vehicles.
Despite the optimistic outlook, the report warned that exchange rate volatility, geopolitical tensions and Nigeria’s continued reliance on imported vehicles could slow the pace of growth. It also noted that the used-vehicle market still dominates the country’s automotive industry, while local vehicle production accounts for less than 20 per cent of total sales.
BMI expects the Nigerian automotive market to continue expanding over the coming years, supported by increasing demand for personal mobility, logistics services and government policies aimed at promoting cleaner and more efficient transportation.
