Nigeria’s New Vehicle Sales Projected to Grow by 7.6% in 2026
Nigeria’s automotive market is projected to record a 7.6 per cent increase in new vehicle sales in 2026, according to the latest Sub-Saharan Africa Autos Report by BMI.The report attributes the expected growth to improved fuel availability following increased local refining capacity, easing inflationary pressures and government policies aimed at supporting the automotive industry.
Analysts say better fuel supply and improved economic conditions could encourage more consumers and businesses to purchase new vehicles, while continued investment in transport infrastructure is also expected to support demand.Despite the optimistic outlook, the report notes that exchange rate fluctuations, import costs and Nigeria’s dependence on imported vehicles remain significant challenges for the sector. It also highlights the growing interest in electric vehicles and cleaner transportation as part of the industry’s long-term development.
