Used Cars Import Rises To N110.5bn

Nigeria At 64: ‘Foreign Vessels Coastal Water Domination Collapses Indigenous Shipping’

Freight Rate: Nigeria Loses N7.2trn Annually To Foreign Firms – Report

CBN Grants RoutePay Licence To Provide Digital Payment Solutions

CBN Imposes $50 Charge On Non-Resident BVN

Nigerians spent N110.5bn to import premium motor spirit (PMS) and diesel-powered used vehicles from the United States (US) and the United Arab Emirates (UAE) between April and June 2024.

This is despite the rising cost of PMS and the call for Nigerians to adopt or convert their car engines to run on Compressed Nature Gas (CNG) which is a cheaper alternative fuel.

The cost of PMS has surged since the removal of subsidies on PMS and the prices of PMS are between N898 to N1,019 per litre across Nigeria

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.