Ah, more tales of the how to flaunt one’s wealth, and this one is from Nigeria. Sure, there’s plenty of disparity in the African state, which happens to be the continent’s second biggest economy, but oil has made for luxury entering the scene, and in a big way.
So much so, the neatest way to show you’re rolling in the dough is by buying a spanking new European sports car, and Porsche is getting into the thick of things, hoping to catch a fair bit of the money being flung, Automotive News Europe reports.
The automaker opened a new dealership last week in Victoria Island, Lagos’ swankiest district and home to a high concentration of millionaires. The likes of Lamborghini and Aston Martin are already around, but the Germans are adopting a different tack, offering the promise of sturdier offerings capable of taking on the country’s less than perfect roads.
Of course, the faster way to go about it is working with places that offer better roads in the first place, and the capital, Abuja, offers just that. Newly built roads mean an easier means to market the likes of the 911, which was unveiled in the country at the launch. Porsche plans to set up an operation in the city, naturally.
It’s estimated that around 200 Nigerians own Porsches, which doesn’t sound like a lot, but it’s considerable in a country that is best described as enigmatic. Absolute poverty has increased to 60% of the population, but the economy grew by 7.68% in Q4 last year, one of the fastest in the world, and two Nigerians occupy places in the top five list of the richest men in Africa. Oil, of course, has been responsible for making many a multi-millionaire.
The report says that Porsche is looking at selling 100 cars in Nigeria in 2012, and is hoping to get to a stable rate of shifting around 300 units a year as it goes along (in comparison, South Africa does 800 units a year). Average prices currently range between 21 million naira (US$133,000) to 30 million naira (US$190,000), the report adds.
Oh, and as an aside, all that new found affluence is also good news for champagne – apparently, Nigeria is the number one consumer of bubbly in the continent, with 539,000 bottles guzzled in 2010, 50% more than that of the richer South Africa. Let’s drink to that.
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with all those online scams thy do , no wonder thy can afford porsches!
well… let’s cash in on the blood money…
“Oil, of course, has been responsible for making many a multi-millionaire.”
Looks like Scam is also responsible but nobody make a count on it.
With news that many Nigerians are millionaires, more will fall for the scam!
if any charity organisation asks me to donate money to africa im really going to facepalm him
what the….damn it. Country with 60% poverty still could afford Porsche. Malaysia sold last year about 400 units.
there are many filthy rich warloads and generals in afrika….
Agree that 60% of them may still live in poverty , for now.But please don’t underestimating them.There maybe a lot of “Nigerian scam” that we heard in Malaysia,but we seldomly heard the good things about that country.As an example , Nigeria are identified as 1 of the Global Growth Generators country for 2010-2050.Even their Finance Minister are now run for the World Bank’s top position according to Channel News Asia today.This is a fact.
I believe a reputable car maker such as Porsche do have a lot in their mind when considering to enter Nigeria.
Who knows what more to come in near future to this country.Koenigsegg perhaps?
the next new world bank head will be a south korean not a nigger.
Porsche has hidden agenda going into Nigeria…
the red color machine on the top of this page is nice to look on, and nice to dream about but practicality not so much
but it is beautiful
This morning I woke up and wanted to know if Porsche wanted to sell more cars in…Nigeria? NOT :p
Please people do stop talking and writing all sort of things about Nigerians driving Porsche. Its not a big deal for some in a country like nigeria to go on porsche car. despite the blessing from God with OIL we are also very hard working people all over the world. just look around you, you will see a Nigerian ready to do hard job.
most of the things we got we have got them the hard way.
I drive porsche back home and many other cars. but I work 8 hrs per day in Finland…….. not all Nigerians are scams and bad