Nigeria has emerged the most expensive country to buy a car in in West Africa, following a survey conducted by Nigeria’s online vehicle marketplace, Carmudi.com.
The average price of a car according to the study is $19,547 dollars which is about N3.9 million.
Nigeria – $19,547 (roughly N3.9m )
Ghana – $18,923 ( N3.7m)
Senegal – $17,654 (N3.5m)
The study noted that in 2013, Nigeria imported more than 500, 000 unit of cars, 75 per cent of which were used cars. Although the number of used cars imported in 2014 and 2015 reduced, Nigerians surveyed in the study agreed it was because of the increase in custom tariff rather than availability of locally manufactured cars.
The study however revealed that despite being the most expensive country to buy a used car in West Africa, Nigeria still has a high demand for cars. It noted that even though the middle class has grown three times larger in the last decade and a half, very few brand new cars have been purchased.