Slide of the month (SOTM) January. The automotive parts market in Nigeria
The Nigerian automotive industry appears to be an interesting market, as our research on the automotive parts market shows that the market size is worth USD 4.4bn or more.
The total vehicles in operation in Nigeria is currently estimated at 12.7 million, and Nigerian drivers spend an average of USD 350 on automotive parts per year.
Interviews conducted with various automotive experts in Nigeria also confirmed that the market for service parts accounts for the biggest share of the automotive market.