Used Vehicle Imports Jump to N250bn as Government Tightens Regulations

Nigeria’s expenditure on imported used vehicles climbed sharply to N249.84 billion in the first quarter of 2026, reflecting a significant increase despite the Federal Government’s stricter regulatory measures on automobile imports.

According to figures released by the National Bureau of Statistics (NBS) in its Foreign Trade in Goods Statistics report for Q1 2026, the country imported pre-owned diesel and semi-diesel vehicles with engine capacities exceeding 2,500cc valued at N249.84 billion. This represents a 91.92 per cent rise compared to the N113.36 billion recorded during the same period in 2025.

The surge comes as authorities intensify enforcement of a newly introduced mandatory vehicle certification policy aimed at strengthening oversight of imported automobiles entering the country.

The report identified the United States as Nigeria’s leading supplier of used vehicles, accounting for imports worth N217.56 billion, which constituted approximately 87 per cent of the total value recorded in the quarter.

Other countries that contributed to Nigeria’s used vehicle imports include the United Arab Emirates with N10.32 billion, Canada with N8.72 billion, Italy with N6.64 billion, and China with N6.60 billion.

Industry observers say the continued demand for fairly used vehicles highlights the growing preference for affordable transportation options amid prevailing economic challenges.

IJEBULAND SET FOR 2026 AGEMO FESTIVAL

Preparations are in top gear for the 2026 Agemo Festival in Ijebuland, with organisers announcing that this year’s celebrations will commence on July 4 and continue on July 5, 2026.

The opening phase of the revered cultural event will feature the traditional movement of Agemo masquerades from various Ijebu communities to Imosan-Ijebu, the historic meeting point where key festival rites are observed.

As part of the annual procession, the masquerades are expected to pass through several towns and major roads across Ogun State, including the Epe/Oke-Owa, Isiwo, Omu/Ala/Egbe/Ejinrin, Erunwon/Oke-Aje, and Ijebu-Imushin/Ilese/Army Barracks routes, as well as sections of the Lagos-Benin Expressway.

Festival authorities identified the recognised procession corridors as Epe-Ijebu-Ode, Isiwo-Ijebu-Ode, Ijebu-Imushin-Ijebu-Ode, Ago-Iwoye-Ijebu-Ode, Odogbolu-Ijebu-Ode, Lagos Garage-Ijebu-Ode, Ibadan Road/Ibadan Garage-Ijebu-Ode, and Okun-Owa-Ijebu-Ode routes.

The Erinlu Roundabout in Ijebu-Ode has been designated as the central convergence point before the masquerades proceed to Imosan-Ijebu.

Motorists and residents have been advised to anticipate temporary traffic disruptions and diversions along affected routes during the procession. Members of the public are urged to cooperate with security personnel and festival officials to ensure a smooth and peaceful celebration.

Organisers also reminded residents to observe established cultural traditions associated with the festival. Women, in particular, have been advised to take note of customary guidelines and plan their movements accordingly from noon on the festival days.

Widely regarded as one of the most important cultural festivals in Yorubaland, the Agemo Festival continues to showcase the rich heritage, customs, and unity of the Ijebu people while attracting widespread attention from visitors and cultural enthusiasts.