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Northern Ireland vehicle, silver, by centre of quay in Republic (9)

Ross

I believe the answer is:

nicaragua

I'm a little stuck... Click here to teach me more about this clue!

'republic' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.

'northern ireland vehicle silver by centre of quay' is the wordplay.
'northern ireland' becomes 'NI' (abbreviation).
'vehicle' becomes 'car' (car is a kind of vehicle).
'silver' becomes 'Ag' (Ag is the chemical symbol for silver).
'by' is a charade indicator (letters next to each other).
'centre of' says to take the centre.
The middle letters of 'quay' are 'ua'.
'ni'+'car'+'ag'+'ua'='NICARAGUA'

'in' acts as a link.

Can you help me to learn more?

(Other definitions for nicaragua that I've seen before include "Central American republic" , "Central American state" , "Latin country" , "Central American nation" , "Central America country, capital Managua" .)

I've seen this clue in The Times.
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