In 35 years, Nigeria could be the automotive capital of Africa

Nigeria should look forward to automobile boom, says PwC (Reuters/Monica Mark)

New data from PricewaterhouseCoopers (PwC) predicts that Nigeria can become a leading automotive hub in Africa by 2050 with an increase in local production and an expansion in new car markets.

Nigeria is very far away such ambitious targets today according to the report. PwC says this year Nigerians will import as many as 335,000 used cars, also known locally as ‘Tokunbos’, as well as 90,000 new cars. But just 30,000 cars will be assembled locally.

Put another way, in 2014, locally assembled cars accounted for only 15% of total car sales in Nigeria but that number could rise to 70% by 2050, according to the PwC report.

Read more: In 35 years, Nigeria could be the automotive capital of Africa – Quartz

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