Motorcycles importation falls by 41 per cent to N212.6 amid ban in city centres – NBS

Nigeria’s spending on the importation of motorcycles fell to N212.64 billion in 2022, representing a 42 per cent increase from N367.39 billion spent in 2021.

According to the National Bureau of Statistics, NBS’s recent figure on Foreign Trade in Goods Statistics Report also showed that the importation bill on motorcycles fell quarter-on-quarter (QoQ) by 22 per cent to N46.43 billion in the fourth quarter of 2022 (Q4’22) from N59.63 billion in Q3’22.

Analysis of the data showed that import bills on motorcycles stood at N74.6 billion in Q1’22, import bill. But in Q2’22, import bills of motorcycles fell quarter-on-quarter by 57 per cent to N31.98 billion. The downward trend was reversed in Q3 ’22 as import bills on motorcycles rose by 86 per cent to N59.63 billion and down by 22 per cent to N46.43 billion in Q4’22.

The report comes on the heels of increasing Motorcycles operations in major cities such as Lagos, FCT and other locations nationwide, especially within city centres.

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