With the upcoming interest in Nigeria of various OEM and after market companies, africon GmbH did a comprehensive study on the Nigerian automotive market with focus on OEM production but also on the local spare parts markets.
One of the key findings has been that the vehicle inflows to Nigeria have dropped significantly due to lack of FOREX but also due to implemented taxes for vehicles. Our recommendation for aftermarket companies:
1. Evaluate the informal markets in Nigeria very closely as “official” companies are hardly present
2. Find a way of taking influence directly in the market by contacts to local players
3. Educate the market on the benefit of buying genuine parts as fakes are dominant in Nigeria
For more information please do not hesitate to contact us on info@africon.de.