Nigeria's importation of passenger motor vehicles experienced significant growth in 2025, reaching N1.01 trillion in the first nine months. This surge indicates a strong recovery following months of sluggish demand due to currency volatility and high import costs. This figure is an increase from N894.09 billion during the same period in 2024, representing a year-on-year growth of 12.66%, according to the National Bureau of Statistics (NBS).

The rebound gained momentum in the third quarter. While imports decreased in the first quarter, totaling N224.58 billion compared to N238.73 billion in 2024, and remained low in the second quarter at N254.67 billion versus N291.93 billion, the third quarter saw a sharp increase to N527.98 billion, marking a 45.3% jump from N363.42 billion during the same period last year.

Data at the country level reveals that the United States continues to be the primary source of Nigeria's passenger vehicles, with imports valued at N415.05 billion, accounting for 41.2% of total imports. South Africa and the United Arab Emirates contributed significantly less, with imports worth N47.27 billion and N26.35 billion, respectively.

This surge in importation reflects a growing stability in the foreign exchange market, easing pressure on dealers and buyers. It also demonstrates a renewed confidence in vehicle imports following periods of uncertainty.