Foreign manufacturers look to tap Nigeria’s $153m motorcycle industry

Despite the ban on the use of motorcycles as a means of human transportation in major cities in Nigeria, foreign investors are still able to sniff untapped opportunities in Nigeria’s transport and motorcycle industry.
 
According to data from the National Bureau of Statistics (NBS), the motorcycles usually imported from India, China, Indonesia, and Japan contributed N416 billion to the total imports in 2020, this is however a 14 percent drop from the N486 billion it contributed in the same period of 2019. The drop may be attributed to the impact of the Coronavirus pandemic.
 
In 2018, it achieved N204 billion, which represented an increase of 183 percent from the N72 billion realised in 2017; although data for the second quarter of 2017 was not available…
 
More details through:
https://businessday.ng/real-sector/article/foreign-manufacturers-look-to-tap-nigerias-153m-motorcycle-industry/
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