Latest figures from the National Bureau of Statistics (NBS) have shown that there were about 11.8 million licensed cars on Nigeria’s roads as at Q4 2018, compared to 11.6 million in the corresponding period of 2017.
According to the report, Nigeria witnessed a 2% increase in the number of licensed cars year on year; that is between Q4 of 2018 and Q4 2017, respectively.
With an estimated population of 198 million, Nigeria’s vehicle per population ratio is 0.06. Similarly, the Bureau’s report shows that 630,868 drivers’ licenses were produced in 2018.
- As at Q4 2018, commercial cars recorded the highest numbers of licensed cars on Nigeria’s roads, having made up 41% of the total cars.
- Diplomatic cars recorded the least number of licensed cars, constituting of just 0.05% of the total licensed cars in Nigeria.
- A total of 185,883 national drivers licenses were produced in Q4 2018
- The number of recorded fresh licenses was 75,446, while the number of renewed licenses and reissued licenses stood at 14,802
- Number plate production was put at 135,505 in Q4 2018.
- Lagos and FCT produced the highest number of drivers’ licenses in Q4 2018
- Zamfara and Kebbi States produced the least numbers of national drivers’ license in Q4 2018.
One Car for every six people in Nigeria – Note that while the number of cars may have increased as at the fourth quarter of 2018, the reported increase in Nigeria’s population suggests the 2% increase is not a big deal. With Nigeria’s population pegged at 198 million, the figure implies that the country has only one car per six Nigerians.
Lagos leads states with highest number of driver’s license produced – Lagos State recorded the highest number of Driver’s licenses produced. In Q 2018, 42,402 licenses were produced, representing 22.8% of the total licenses produced.
Also, Abuja (FCT) and Oyo ranked second and third respectively with the highest number of driver’s license produced. FCT recorded 20,573 (11.1%) wile Oyo recorded 11.757 licenses representing 6.3% of the total licenses produced with the period under review.
However, Zamfara, Kebbi, and Yobe recorded the lowest number of licenses issued, with Zamfara (367), Kebbi (371 and Yobe (475).
Road accident Victims up by 19% – The number of people involved in Road accident in 2018 increased by 19% in Q4 of 2018. According to the report, in Q4 2018, the number of people involved in road accident increased to 18,729, as against 15,696 people in Q4 2017. This represents a 19% increase in the number of road accidents Victims in Nigeria.
Most vehicles involved in road accident were Cars – The report further showed that out of 3,495 vehicles involved in road accidents in Q4 2018, cars recorded the highest number with 1,312. This is followed only by Minibus recording 821. Motorcycle recorded 747, while trucks involved in road accident were 460. The number of Tankers was 85 while Trailer recorded 182.
The implications- According to Bernstein’s Report, the total number of cars on the road around the world and kilometres flown in planes will nearly double by 2040. Cars are projected to reach the two billion mark by 2040, while air travel kilometres are set to hit 20 trillion in the same period.
One of the economic impacts an increase in the number of cars has on the Nigerian economy is that more jobs will be created for automakers and car dealers. Although the Nigerian-based auto industry jobs have declined for several decades now, thousands of Nigerians still make a living designing, building and selling cars
Beyond the initial purchase, every car continues to cost its owner money, hence, leading to a broader economic impact. For instance, cars require fuel, which itself constitutes a major expense. Regular maintenance and repair following an accident, along with car insurance, are all additional costs to car owners. It is also an opportunities for secondary businesses to thrive.
Togo, Niger, Benin remit N2.04 billion to Nigeria for power supply
Nigerian Electricity Regulatory Commission says international electricity customers remitted the sum of N2.04billion to Nigeria in three months.
Nigeria’s international electricity customers – Togo, Niger, and Benin, remitted the sum of N2.04billion in the first quarter of 2020, as their outstanding electricity bill to the Market Operator (MO) of the sector in Nigeria.
This was found in the Nigerian Electricity Regulatory Commission 2020 first quarter report, which was released recently.
According to the report, a total of N4.05billion ($13.22million) invoices were issued by the MO to international customers including Societe Nigerienne d’electricite or NIGELEC; Societe Beninoise d’Energie Electrique (SBEE); and Compagnie Energie Electrique du Togo (CEET).
The commission stated that during the quarter, NIGELEC made a payment of ₦1.61billion ($5.27million) as part of its outstanding bills for the energy received from NBET and services rendered by the MO.
It stated, “Similarly, SBEE paid ₦0.43billion ($1.39million) in respect of services received from MO.
“It was noteworthy that tariff shortfall (represented by the difference between actual end-user tariffs payable by consumers and the cost-reflective rates approved by NERC) had partly contributed to liquidity challenges being experienced in the industry.
“The settlement ratio to the expected Minimum Remittance Thresholds, having adjusted for tariff shortfall, indicated that power distribution companies needed to improve on their performance.”
Special customers like Ajaokuta Steel Co. Ltd and others in its environs did not make any payment in respect of the N0.27billion and N0.05billion invoices issued to them by the Nigerian Bulk Electricity Trading Plc and the MO respectively, during the period under view.
Meanwhile, the power distributors failed to remit N119.88billion to the sector within the same period.
“Whereas Discos were expected to make a market remittance of 46.09% during 2020/Q1, only 32.53% settlement rate was achieved within the timeframe provided for market settlement in the Market Rules,” it added.
What it means: The Discos’ remittance level, regardless of the prevailing tariff shortfall, was still below the expected MRT and they are expected to improve on their performances.
#EndSARS: Protests may return if panels do not address all issues in 2 weeks – Former Nigerian Minister
Akinyemi says the #EndSARS protesters would return to the streets if their demands are not addressed in two weeks.
COVID-19: Jason Njoku and wife test positive
iROKOtv CEO and wife have contracted the novel coronavirus.
Jason Chukwuma Njoku, the co-founder and CEO of iROKOtv and his wife has tested positive for COVID-19. However, Mrs. Mary Njoku is feeling well.
Jason, disclosed this via his Twitter handle stating that “My enemies are hard at work in 2020. Mrs. Njoku and I tested positive for Covid-19. I’m not feeling great, but Mary is well. Literally no idea how I caught it. But we shall see this pass too.”
The media mogul did not reveal if his children caught the virus too.
My enemies are hard at work in 2020. Mrs Njoku and I tested positive for Covid19 😩. I'm not feeling great but Mary is well. 😷🤢. Literally no idea how I caught it. 🤷🏾♂️. But we shall see this pass too🙏🏾. pic.twitter.com/tnsP1BCPBB
— JasonNjoku (@JasonNjoku) October 28, 2020