Vehicle imports rise 42.5% after levy reduction

Stakeholders in the nation’s maritime sector have attributed the 42.5 per cent increase in vehicle imports recorded in the first half of 2026 to the reduction in levies on imported vehicles. The Nigerian Ports Authority reported that a total of 103,375 units of imported vehicles were handled at various Nigerian ports between January and June 2026, representing a 42.5 per cent increase compared with the 72,568 units recorded in the same period in 2025. The Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, disclosed this at he weekend while speaking during the quarterly meeting of the Port Consultative Council in Lagos, where he benchmarked the agency’s first-half 2026 operational data against the same period last year to gauge overall port performance. Dantsoho, who was represented at the event by the Principal Manager, Statistics, Mrs Okenwa Igwebuike, attributed the growth in vehicle handling to transshipment activity at the Ports & Terminal Multiservice Limited Terminal on Tin Can Island Port, adding that it contributed significantly to the remarkable increase recorded in vehicle traffic during the period. “A total of 103,375 units of imported vehicles were handled at Nigerian ports between January and June 2026, representing a 42.5 per cent increase when compared with 72,568 units recorded in the same period in 2025,” Dantsoho said. According to him, the vehicle import surge came against the backdrop of an overall positive performance across nearly every major indicator tracked by the NPA. “Vessel calls at Nigerian ports rose to 2,152 in the first half of 2026, a 6.9 per cent increase, while gross registered earnings climbed to 96,693,108 from 79,981,595 recorded in the first half of 2025, representing a 20.9 per cent jump,” he stated. Dantsoho highlighted that the total cargo throughput across the nation’s ports stood at 68,294,210 metric tons, up 12.2 per cent from 60,844,521 metric tons handled in the same period last year.See more Punch stories on Google.Add Punch on Google The NPA boss added that inward cargo alone accounted for 38,411,323 metric tons, against 36,338,068 metric tons in 2025, an increase of 5.6 per cent. He pointed out that Lekki Port emerged as the standout performer among the nation’s port locations, “recording a 48.4 per cent increase in vessel calls and now handling nearly 40 per cent of total national cargo throughput.” He attributed that growth largely to operations at the Dangote Refinery, which accounted for 76 per cent of total cargo traffic recorded at the port during the review period. “Onne Port also posted strong growth, with a 26.6 per cent rise in vessel calls, supported largely by LNG exports and now accounting for 22.7 per cent of national cargo throughput,” he stressed. He mentioned that Calabar and Rivers ports remained marginal contributors, jointly accounting for just over four per cent of cargo handled nationwide. “All other port locations recorded a decline in vessel calls during the period.” Dangote acquires 4,000 machines for refinery expansion Dangote refinery: Nigerians tap savings, loans to buy shares Nigeria’s current account surplus jumps to $7.5bn He maintained that container traffic also trended upward, with total throughput reaching 815,346 twenty-foot equivalents, a 10.3 per cent increase over the 709,142 TEUs recorded in the first half of 2025. Dantsoho reiterated that container imports made up the bulk of this volume at 546,755 TEUs, or 67 per cent of total container traffic, while exports stood at 203,980 TEUs, representing 25 per cent. “Transhipment traffic recorded the steepest growth of any container category, rising 169.5 per cent to 35,570 TEUs from 13,199 TEUs in the corresponding period last year, though it still accounts for just four per cent of overall container traffic,” he said. He, nevertheless, argued that not all indicators trended positively, stressing that ship turnaround time worsened, with vessels spending an average of 5.3 days at berth compared with a shorter turnaround recorded in the same period of 2025, a decline the report attributed to a six per cent negative performance. He explained that the NPA’s benchmarking exercise against 2025 was designed to give the Port Consultative Council clear insight into operational performance indicators and developments in port activities from January to June 2026, in support of strategic decision-making. Dantsoho identified the Dangote Petroleum Refinery as a defining factor in the sector’s growth trajectory, noting that the facility now accounts for approximately 40 per cent of total annual port traffic. With the refinery’s planned expansion to 1.4 million barrels per day, the NPA boss said further investment in port infrastructure and the implementation of a balanced traffic policy would be required to accommodate the anticipated rise in cargo volumes and maximise the associated economic benefits to the nation. Meanwhile, reacting to the figure, the Apapa Chapter Chairman of the National Council of Managing Directors of Nigerian Licensed Customs Agents, Abayomi Duyile, in a chat with PUNCH on Monday, said that the surge was as a result of the little levy reduction on imported vehicles. “So the surge is the little reduction on levies that was done on vehicles. And if you look at it now, the Nigerian vehicle business is booming. So the rate at which Nigerians are bringing in vehicles, they are tying their business to vehicles. It’s the easiest means of generating money. The turnover is immediate,” Duyile said. He, nevertheless, decried that most of the vehicles that are coming in are old and accidented. “And part of the vehicles are accidented vehicles. Mostly old and accidented vehicles. You know that you can even be in this country and bid for auctioned vehicles from here. That’s what many Nigerians are doing. They will go to the auction site in the US and bid for any of the vehicles they want. “And the truth of the matter is the surge in internet fraud makes cars sell. So you understand the link now. All these guys, the first thing they do is buy cars. Buy flashy cars with their money. That’s the number one thing they do,” Duyile added. Also speaking, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, linked the development to a stronger exchange rate in the past few months. “Because there was a slight downward review in tariffs and import duty on vehicles. That is one factor. The other factor is the exchange rate. The exchange rate has been getting stronger. The exchange rate, to me, has also contributed to it. So I think they are the two major factors that you can attribute the increase to,” he said. Anozie Egole Anozie is a Chief Correspondent at Punch Newspapers with over 13 years of experience covering entertainment, maritime, and transport sectors. He specializes in producing insightful, engaging stories that provide clarity and depth across his beats. Anozie’s work reflects substantial newsroom experience and a strong commitment to accurate and compelling journalism.

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