Nigeria’s spending on motorcycle (Okada) imports fell to N212.64 billion in 2022, a 42 percent increase from N367.39 billion in 2021.
The National Bureau of Statistics (NBS) revealed this in its Foreign Trade in Goods Statistics report, which also revealed that the importation bill for motorcycles fell by 22 percent quarter on quarter (QoQ) to N46.43 billion in the fourth quarter of 2022 (Q4’22) from N59.63 billion in the third quarter of 2022 (Q3’22).
According to NBS, import bills on motorcycles totaled N74.6 billion in Q1’22. However, motorcycle import bills fell 57 percent quarter on quarter to N31.98 billion in Q2’22.
The downward trend was reversed in Q3 ’22, when motorcycle imports increased by 86 percent to N59.63 billion, before falling by 22 percent to N46.43 billion in Q4’22.
The Lagos State Governor, Babajide Sanwo-Olu, has banned the operations of commercial motorcycles popularly called Okada, in six Local Governments.
The six local governments listed by the governor are Ikeja, Surulere, Eti-Osa, Lagos Mainland, Lagos Island, and Apapa.
This could have been one of the major reasons for the downward trend in imports of motorcycles in Nigeria.
