Developing Africa Group is UK based Intellectual Property Rights (IPR) Commercialization,

Recent Posts

Back to top

Developing Africa Group

What talent does a Mechanic in Africa have

Africa mechanics have developed a technical know-how that makes their knowledge of most cars, second to none. A car written off in the west, can survive 5 – 10 more years in Africa in harsher conditions. That skill and talent is wasted because it is not being converted into an IPR that can be commercialized. This is the extent to which IPR can impact ordinary Africans. They service the used car market.

The cost of used vehicles popularly called “Tokunbo cars” may spike in the coming months due to an economic phenomenon termed imported inflation.

Imported inflation is a rise in the cost of raw materials or finished goods imported from a country of origin that is experiencing high inflation.

The rising inflation on consumer goods in the United States of America is on the verge of triggering a wave of imported inflation into Nigeria, with a focus on used cars, a major imported item from the world’s largest economy.

How it affects Nigeria

Over 20% of Nigeria’s imports from the US are used vehicles. Nigeria is a huge market for used cars, imported from Europe, America and other foreign countries, however, the United States of America is the leading country of import for Nigeria.

According to data from the National Bureau of Statistics, Nigeria imported about N140 billion of used vehicles in the 1st quarter of 2021 and N150 billion in the 4th quarter of 2020.

source –

Post a Comment