Nigeria’s Vehicle Imports Plunge by 32% Amid Naira Depreciation
Nigeria’s Vehicle Imports Plunge by 32% Amid Naira Depreciation In 2023, Nigeria witnessed a sharp 32% decline in motor vehicle imports, totaling 132,293 units compared to 194,550 in 2022, reflecting the sustained depreciation of the Naira, according to data from the Nigerian Ports Authority (NPA). Financial Vanguard’s investigation revealed a significant downturn across various import…