Buying a car in Nigeria today comes with a lot of considerations, especially as the new car market is increasingly becoming out of reach for many Nigerians due to the huge gap between their earnings and high car prices, worsened by import duties and FX.
These issues and more have priced Nigeria’s middle class out of the new-car segment, pushing them into the used car (tokunbo) market, which is still considered a luxury for most buyers.
Data from the National Bureau of Statistics (NBS) showed that Nigeria imported N284 trillion used vehicles with diesel or semi-diesel engines, with cylinder capacities> 2,500, in the first quarter of 2026, recording the highest imports in over a decade.
The data also showed that Nigeria imported N552.3 million passenger motor cars in the same quarter, reflecting the rising demand for used cars.
Read also: Nigeria’s middle class wanted better cars. The naira had other
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