BMI View: We maintain our view that high inflation, a depreciating naira and the ongoing liquidity crisis
will result in a 45.0% contraction in vehicle sales in 2016.
- A depreciating currency will continue putting upward pressure on the prices of i ..."
BMI View: The removal of fuel subsides in combination with an ailing naira and lack of access to foreign
currency will continue to stifle growth in the Nigerian autos market. As a result, we forecast a 45.0%
contraction in vehicle sales in 2016.
BMI View: The combination if an ailing naira and lack of access to foreign currency will continue to stifle
growth in the autos market, leading to another year of contraction in 2016.
? An ailing currency will continue putting upward pressure on the pr ..."
BMI View: Renewed vehicle production under the government's new automotive policy will see high
average growth of 39% in vehicle production over our forecast period to 2019. However, vehicle sales
growth will be dragged down by high import tariffs over our forecast pe ..."
BMI View: We forecast strong growth across all freight modes in Nigeria in 2016 and beyond. Increasing
demand for consumer goods by an expanding middle class and manufacturing sector will raise intermodal
container volumes. Population growth means growth in demand wil ..."
BMI remains downbeat on the near-term outlook for the Nigerian new vehicle sales market. We maintain
our forecasts for a 20% decline in sales in 2015 and expect only a slight recovery in 2016. According to Jim
Dando, the general manager of export operations for Nissan ..."
BMI View: Despite the fact that total trade is on the decline in Nigeria at present, and has been since 2011,
the country's main ports are, however, set to experience healthy enough growth over the short to medium
The outperforming Nigerian port in terms o ..."
Over the past quarter, BMI has become considerably more negative on the near-term outlook for the
Nigerian new car sales market. We are now targeting a 20% decline in new car sales for 2015.
There are several reasons behind the sharp downgrade to our Nigerian auto sec ..."
BMI View: Although Nigeria's wider economy is characterised by an overreliance on oil exports and lack
of domestic productive capacity, the former does provide upside risk to our forecasts going forward, with
Nigerian ports set to reap the benefits over the medium ter ..."
This report was compiled in mid-March 2015, before the result of the Nigerian presidential election was
known. BMI believes that a victory for incumbent President Goodluck Jonathan would be the most positive
for the Autos sector in terms of maintaining continuity at a ..."