Nigeria’s two busiest roll-on/roll-off (RoRo) terminals, Ports & Terminal Multipurpose Limited (PTML) and Five Star Logistics, have recorded a historic surge in vehicle importation by handling a combined total of more than 71,000 vehicles in the first half of 2025 alone.
At PTML, imports jumped by nearly 90 percent year-on-year. Data shows that more than 34,000 vehicles — including both new and used units — were shipped through the terminal between January and June 2025, compared to about 18,000 units in the same period of 2024.
Vessel calls also rose sharply, with over 50 ships already received in six months, surpassing the entire 2024 total of 40.
The story is similar at Five Star Logistics, where throughput reached 37,000 vehicles by July 2025, exceeding the 32,000 units handled in the whole of 2024.
Industry stakeholders say the growth trajectory indicates that Nigeria could close the year with record-breaking import levels.
Drivers of Growth
Stakeholders attribute the surge to improved foreign exchange stability, which has restored importer confidence, and the introduction of the 846 valuation method by the Nigeria Customs Service, which has reduced duty costs for vehicle clearance.
“The stability of the naira-dollar exchange rate has been critical. Importers can now plan ahead without the uncertainty that disrupted trade in previous years,” a PTML source disclosed.
Customs agents also noted that the revised valuation method now accounts for depreciation, mileage, and wear-and-tear, bringing duty assessments closer to market realities.
This has made clearance more affordable and encouraged higher import volumes.
Market Outlook
The sharp increase in throughput at PTML and Five Star Logistics suggests renewed optimism in Nigeria’s automotive trade.
Analysts say the influx of vehicles could expand consumer options, ease supply constraints, and potentially moderate car prices.
However, they warn that sustaining the growth will require the Central Bank of Nigeria to maintain forex stability and for government to deepen structural reforms. Rising global oil prices, domestic inflation, and reliance on imports remain potential risks.
For now, PTML and Five Star Logistics are at the centre of what is shaping up to be Nigeria’s strongest year for vehicle imports in recent history.