Porsche sales down in Nigeria

Nigeria's wealthy elite would be hard pushed to find a clear road in traffic-clogged Lagos that would allow them to floor the pedal and get anywhere near approaching top speed.
But now sales of luxury sports cars have slumped as Africa's biggest economy and largest oil producer is battered by the fall in global crude prices.
A Porsche showroom in Lagos is full of top-of-the-range models selling from $100,000 and upwards.
In the good times, high-spending Nigerians would roll into the garage with fat wallets and drive out in a Porsche - now the showroom is deserted.
The managing director, Parvin Singh, told me that sales were down 50% last year compared to 2014. He blames the crash on the crude oil crisis.

Nigeria at a glance:

• Africa's largest economy, biggest oil producer and most populous nation
• Oil-rich, but facing worst economic crisis in years after falling oil prices
• 62.6% of its 170 million population live in poverty
• Average annual earnings - $1280

Source: UN