
By Elizabeth Adegbesan
Nigeria’s spending on importing motorcycles rose quarter-on-quarter (QoQ) by 22 per cent to N74.6 billion in the first quarter of 2022, Q1’22, from N61.25 billion in Q4’21.
However, the Q1’22 figure represented a 37 percent decline year-on-year (YoY) against the N117.65 billion recorded in Q1’21.
The National Bureau of Statistics (NBS) disclosing this in its Foreign Trade in Goods Statistics report stated: “In the first quarter of 2022, manufactured goods mainly imported were ‘Safety or relief valves’ from France and China worth N70.2 billion and N3.30 billion followed by ‘Motorcycles and cycles fitted with an auxiliary motor.
The rise in the motorcycle import bills has been steady since last year after an unexplained decline in the second quarter of 2021.
Many observers believed that since the product is widely used as means of transport as well as employment option for many young people, the import bill would naturally be on the increase.
However, many state governments have been restricting the use of motorcycles for transportation, the latest being Lagos State.
Lagos State Governor, Babajide Sanwo-Olu banned the operations of commercial motorcycles, popularly known as Okada, in six Local Governments from June 1, 2022.
The six local governments listed by the governor are Ikeja, Surulere, Eti-Osa, Lagos Mainland, Lagos Island, and Apapa.
The governor announced that the ban was indefinite and total.
Over 2,000 motorcycles of defiant riders were seized on the authorized date.
The Lagos State Government, through the state Environmental and Special Offences Unit, (Taskforce) destroyed by crushing the impounded motorcycles last week.
However, the state Commissioner for Information and Strategy, Gbenga Omotoso, noted that about 5,000 motorcycles had earlier been crushed in Q1’22.
Disclaimer
Comments expressed here do not reflect the opinions of Vanguard newspapers or any employee thereof.