Nigerian second hand market worth $1.97bn, says report

By Ali Smart
The burgeoning trade in second hand items in Nigeria is worth $1.97billion at the moment, if the report of MOBOfree, an African social marketplace is anything to go by.
According to MOBOfree, the trade in second hand goods rose from a 274 per cent year-on-year increase in the total value of goods on their platform in Nigeria. The current value of goods is $1.97 billion (N394 billion), up from $526million (N102.5 billion) last year.
This impressive growth outperforms the forecasted figure for 2015 by 30 per cent.

Read also: Nigerian retail market investments hit N22bn

MOBOfree attributes this huge increase in the value of goods to a renewed focus on the automotive, household, and clothing items.

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