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Nigeria spends more than $5 billion annually on imported automotive spare parts

The Nigerian automotive market is projected to be worth $27.7billion by 2030, an annual growth rate of 5% from 2025.

An astounding 60% of cars in Nigeria's roads are more than 10 years old. It is estimated that used cars outnumber new cars by 131 to 1 on the road.

It is estimated that there are around 16 million vehicles on the road in West Africa, with Nigeria accounting for approximately 75% of the market, representing around 12 million vehicles.

Major Product Segments

Oils & Lubricants

$1.2 bn

Spare Parts

$6.2 bn

Finished Vehicles

$1.18 bn

Tyre

$540 Mill

Batteries

$180 Mill

 

By Countries

Nigerian GDP: $285 Billion
Projected GDP growth rate: 4.3% (2026)
Nigerian Population: 237 million (2025)
Vehicles on the road: 12 million (2025)

Nigeria & West Africa

  • Africa’s automotive market continues to expand, supported by population growth, urbanisation, increasing mobility needs and demand for both new and used vehicles, creating significant opportunities for international automotive manufacturers and suppliers.
  • Africa’s ageing vehicle fleet creates sustained aftermarket demand, with vehicles in many African markets averaging 15+ years old, driving frequent maintenance and replacement needs across spare parts, tyres, batteries, lubricants, accessories and workshop equipment.
  • Governments across Africa are encouraging local vehicle assembly and automotive manufacturing, creating new opportunities for OEMs, component manufacturers and technology providers. However, many African markets remain heavily dependent on imported vehicles, components and spare parts, sustaining strong demand for international suppliers.
  • Ghana’s automotive market was valued at approximately $1.96 billion in 2025, driven by strong demand for used vehicle imports, with projections suggesting growth to $2.12 billion by 2030.
  • Ghana’s vehicle fleet averages 14–16 years old, driving frequent repairs and sustained demand across the automotive aftermarket.
  • Similar to Nigeria, the local government (Ghanaian Automotive Department Policy - GADP) are accelerating local vehicle assembly in Ghana, creating new opportunities for OEMs and component suppliers, however, imported vehicles and parts remain the primary source of supply, sustaining strong demand across the aftermarket.
African GDP: $2.8 trillion in 2025
Projected GDP growth rate: 4.4% (2026)
African Population: 1.59 billion (2026)
Vehicles on the road: 55 million (2026)