Car Prices in Nigeria: A Comprehensive Guide to 2025

When it comes to purchasing a car in Nigeria, the market offers a vast selection of new and used vehicles across various price ranges. Whether you’re looking for a luxury vehicle, a family car, or an economical option, there’s something for every buyer. Car prices in Nigeria are influenced by factors such as import duties, exchange rates, brand popularity, and vehicle specifications. In this comprehensive guide, we will delve into the current state of the Nigerian car market, providing a detailed overview of the average prices of various car brands, models, and the factors that influence these prices.

Current Car Prices in Nigeria (2025)

The cost of purchasing a car in Nigeria can vary significantly based on the model, year, brand, and condition of the vehicle. Generally, the prices of new cars tend to be higher than those of used cars. Import duties, taxes, and the ongoing exchange rate fluctuations contribute to the overall pricing structure. Below, we will break down the prices of new and used cars in Nigeria in 2024, providing you with accurate and up-to-date information.

New Car Prices in Nigeria

The prices of new cars in Nigeria have seen a steady increase due to importation costs, high demand, and the impact of the foreign exchange market. Here is an overview of the price ranges for popular new car brands in 2024:

1. Toyota Cars

• Toyota Corolla: The Toyota Corolla remains one of the most popular sedans in Nigeria due to its fuel efficiency, reliability, and affordable maintenance costs. A brand-new Toyota Corolla can range from ₦14,000,000 to ₦18,000,000 depending on the model year and trim level.
• Toyota Camry: The Toyota Camry, a symbol of luxury and comfort, is another best-seller in Nigeria. A new Toyota Camry starts from around ₦20,000,000 and can go up to ₦25,000,000 for the higher trims.
• Toyota Hilux: For those in need of a rugged, high-performance vehicle, the Toyota Hilux is a popular choice. The price of a new Toyota Hilux ranges from ₦20,000,000 to ₦30,000,000 based on the variant and specifications.

2. Honda Cars

• Honda Accord: Known for its luxury, comfort, and fuel efficiency, the Honda Accord is favored by many middle-class Nigerians. A new Honda Accord is priced between ₦18,000,000 and ₦25,000,000, depending on the trim level.
• Honda CR-V: The Honda CR-V is a popular choice in the SUV category. Its stylish design and advanced features make it appealing to many Nigerian buyers. A new Honda CR-V is priced between ₦22,000,000 and ₦30,000,000.

3. Kia Cars

• Kia Sorento: Known for its durability and advanced technology, the Kia Sorento is an excellent choice for Nigerian buyers seeking an affordable SUV. A new Kia Sorento ranges from ₦16,000,000 to ₦25,000,000.
• Kia Optima: The Kia Optima is another excellent choice for buyers looking for a stylish sedan. A new Kia Optima is priced between ₦13,000,000 and ₦18,000,000.

4. Mercedes-Benz Cars

• Mercedes-Benz E-Class: The Mercedes-Benz E-Class is a luxury sedan that exudes sophistication and performance. The price of a new Mercedes-Benz E-Class in Nigeria ranges from ₦45,000,000 to ₦70,000,000 based on the model year and features.
• Mercedes-Benz GLC: The Mercedes-Benz GLC is a popular luxury SUV in Nigeria. A new GLC can cost anywhere from ₦35,000,000 to ₦50,000,000, depending on the trim and specifications.

Used Car Prices in Nigeria

For those looking to purchase a used car, there are many options available in the Nigerian market. Used cars offer significant cost savings, but buyers need to be cautious about the condition of the vehicle and its history. The prices of used cars can range from a few millions of naira to much higher amounts, depending on the age, model, and condition of the car.

1. Toyota Used Cars

• Used Toyota Corolla: A used Toyota Corolla (2015-2018 model) typically sells for ₦7,000,000 to ₦9,000,000 in Nigeria. Older models (2010-2014) may range from ₦5,000,000 to ₦7,000,000.
• Used Toyota Camry: A used Toyota Camry (2016-2019 model) is priced between ₦8,000,000 and ₦12,000,000, while older models may cost anywhere from ₦5,500,000 to ₦8,000,000.

2. Honda Used Cars

• Used Honda Accord: A used Honda Accord (2015-2018 model) typically costs between ₦6,000,000 and ₦9,000,000, while older models are available for ₦4,000,000 to ₦6,000,000.
• Used Honda CR-V: A used Honda CR-V (2015-2018 model) can be found for ₦7,000,000 to ₦10,000,000, with older models going for ₦5,000,000 to ₦7,000,000.

3. Luxury Cars (Used)

• Used Mercedes-Benz E-Class: The price of a used Mercedes-Benz E-Class (2015-2018 model) typically ranges from ₦18,000,000 to ₦30,000,000, while older models may be found for as low as ₦12,000,000.
• Used BMW X5: A used BMW X5 (2015-2018 model) can be purchased for ₦12,000,000 to ₦22,000,000, depending on the condition and year of the vehicle.

Factors Influencing Car Prices in Nigeria

Several factors influence the prices of cars in Nigeria, both for new and used vehicles. Understanding these factors will help buyers make more informed decisions and find the best value for their money.

1. Exchange Rates

The exchange rate between the Nigerian Naira (NGN) and foreign currencies, particularly the USD or Euro, plays a significant role in determining the cost of imported cars. A depreciation in the Naira against these currencies can lead to an increase in the price of both new and used cars.

2. Import Duties and Taxes

Nigeria imposes import duties and taxes on imported goods, including vehicles. These duties can range from 5% to 35%, depending on the type and engine size of the car. Additionally, shipping costs, port fees, and customs clearance fees further increase the final price of the vehicle.

3. Brand and Model Popularity

The brand and model of a car can significantly affect its price. Popular brands like Toyota, Honda, and Mercedes-Benz tend to retain their value better and have higher resale prices. Luxury brands such as BMW, Mercedes-Benz, and Audi also command higher prices due to their premium features and prestige.

4. Vehicle Condition and Age

For used cars, the condition and age of the vehicle are key factors in determining the price. Cars with low mileage, no history of accidents, and well-maintained interiors and exteriors will generally command a higher price than those that are older or have suffered damage.

Where to Buy Cars in Nigeria

Nigeria offers numerous options for buying both new and used cars. Some of the most popular options include:

1. Car Dealerships

There are many authorized car dealerships in Nigeria that offer both new and used cars. These dealerships often provide financing options, warranties, and the assurance that the cars are genuine and well-maintained.

2. Online Marketplaces

• Jiji.ng: Jiji.ng is one of the largest online platforms for buying and selling used cars in Nigeria. The website offers a wide range of vehicles, and buyers can filter by brand, model, and price.
• Cars45: Cars45 is another popular platform that specializes in buying and selling used cars. The site offers a transparent process, including vehicle inspection reports and a secure transaction environment.

3. Local Car Markets

There are several well-known car markets in cities like Lagos, Abuja, and **

Port Harcourt**, where buyers can find a wide range of new and used vehicles. These markets typically offer competitive prices but require buyers to be cautious and ensure that the car is in good condition.

Conclusion

The prices of cars in Nigeria in 2024 are influenced by several key factors, including the vehicle’s brand, age, condition, and the current state of the exchange rate. New cars from reputable brands like Toyota, Honda, and Mercedes-Benz can range from a few million naira to tens of millions, while used cars offer more affordable options.

Understanding these price ranges and factors will enable you to make an informed decision when purchasing a car in Nigeria, whether you’re buying new or used. It is important to shop around, compare prices, and inspect vehicles thoroughly before finalizing your purchase.