When compared to the N367.39 billion spent in 2021, the importation of motorcycles, or “Okadas,” has decreased to N212.64 billion in 2022, a 42% decrease.
The National Bureau of Statistics revealed this in its Foreign Trade in Goods Statistics report, which also revealed that the importation bill for motorcycles fell by 22% quarter on quarter to N46.43 billion in the fourth quarter of 2022 from N59.63 billion in the third quarter of 2022 (Q3’22).
The downward trend was reversed in Q3 ’22, when import bills on motorcycles increased by 86% to N59.63 billion, before falling by 22% to N46.43 billion in Q4’22.
WITHIN NIGERIA observes that this fall could be a result of the Okada ban in a few states of the country, especially Lagos State which records the highest number of its importation.
Recall, in May 2022, the Lagos State government banned the operations of commercial motorcycles in six Local Government Areas in the state which consisted of Ikeja, Surulere, Eti-Osa, Lagos Mainland, Lagos Island and Apapa and later extended the ban to four more LGAs –Kosofe, Oshodi-Isolo, Shomolu, and Mushin.
The government announced that the ban was indefinite and total.
Over 2000 motorcycles of defiant riders were seized on the authorised date.
The state Commissioner for Information and Strategy, Gbenga Omotoso, noted that about 5,000 motorcycles had earlier been crushed in Q1 22.
Discussion about this post