For years, the word "Tokunbo"—a Nigerian term for foreign-used or imported second-hand cars—reigned supreme in the Nigerian auto market. It represented a gateway to car ownership, offering a chance to drive an international-standard vehicle at a fraction of a new car's price. But times are changing. Walk into any major car lot or scroll through online marketplaces today, and you'll notice a significant shift: more buyers are now opting for "Nigerian-Used" vehicles.
Why the sudden change of heart? It's a story of shifting economics, currency volatility, and a growing appreciation for what's already on our soil.
The Unbeatable Price Tag 🏷️
The primary catalyst is simple: cost. The Nigerian economy is grappling with high inflation and a volatile exchange rate. Since Tokunbo cars are imported, their final price is directly tied to the value of the Naira against foreign currencies, particularly the US Dollar.
A car that cost $5,000 to buy and ship a few years ago might cost three times as much in Naira today, even before factoring in import duties and port charges. These soaring landing costs have pushed what were once affordable Tokunbo vehicles far out of the reach of the average middle-class Nigerian.
In contrast, a well-maintained Nigerian-Used car offers a more stable and, crucially, a significantly lower entry price. Buyers are realizing they can get a reliable vehicle for much less, leaving them with funds for immediate maintenance and necessary repairs. This strategic financial choice is what’s driving the market's momentum.
Familiarity Breeds Trust (and Lower Costs) 🛠️
Beyond the initial price, the cost of ownership is a major factor. The typical Nigerian car owner knows their local mechanics.
- Parts Availability: Japanese brands like Toyota and Honda dominate the Nigerian market. Nigerian-Used versions of these cars have a readily available ecosystem of spare parts, which are often cheaper and easier to source locally than specialized parts for some foreign-used models.
- Mechanic Expertise: Local mechanics have spent decades fixing these common Nigerian-Used models. They are experts in their diagnosis and repair, leading to lower labour costs and faster service times.
While a Tokunbo car might come with the initial sheen of a "fresh import," the Nigerian-Used vehicle offers peace of mind when the inevitable repair is needed—a crucial detail when considering a long-term asset in a country with challenging road networks.
Implications for the Local Market 📈
The rise of the Nigerian-Used market is more than just a trend; it has profound implications for the local economy:
1. Increased Liquidity for Sellers
More people are choosing to sell their vehicles locally, whether to upgrade to a newer model or in response to economic pressures. This trend is injecting more liquidity into the local market, turning what was once a depreciating asset into a partial hedge against inflation for sellers.
2. The Dealer Shift
Many traditional Tokunbo dealers are now adding Nigerian-Used inventory or even focusing on it exclusively. This shift creates a more vibrant and competitive local retail environment. Online marketplaces are booming, connecting private sellers directly with buyers, which adds a layer of transparency and speed to transactions.
3. Focus on Maintenance and Inspection
As more buyers turn to Nigerian-Used cars, there is a growing demand for services like pre-purchase inspections and certified maintenance records. This is a positive development that will push the unorganized sector toward better standards, fostering greater trust in local pre-owned vehicles.
The Road Ahead
The choice between "Nigerian-Used" and "Tokunbo" is no longer just about perceived quality; it's a practical, financially intelligent decision shaped by the current economic landscape. While the Tokunbo market will always exist, the Nigerian-Used car has firmly established itself as the pragmatic king of the road, driving a change that benefits local businesses, mechanics, and everyday citizens seeking affordable mobility. It's a testament to the Nigerian spirit of resilience and resourcefulness—finding the best value right here at home.”