Nigeria’s appetite for imported cars is not waning. Passenger car imports hit about N1.18 trillion in the first half of 2026, up about 145.6% from N479.26 billion a year ago, according to Nairametrics’ analysis of foreign trade data from the National Bureau of Statistics. If you are shopping for a Tokunbo car for sale in Lagos, Abuja or Port Harcourt, the real question is what your money will actually buy once the clearing is paid.
A warning ahead: measure NBS statistics value of imports, not the number of vehicles. The jump reflects the higher naira value as much as the volume, so it does not prove that the price of Tokunbo rose by the same percentage.
What the increase in imports means for buyers
Imports of passenger cars in the first quarter of 2026 stood at about N552.34 billion and N624.75 billion as against N224.58 billion and N254.67 billion in the same quarter of 2025. Overall imports of transport equipment and parts reached about N3.73 trillion in the half-year. For ordinary buyers, the practical implications are that competition for good used stock at ports and dealer lots, Naira exchange rates, shipping and customs charges determine the final sticker price.
Why Clearing Costs Determine Your Budget Now
Dealer comments reported by Nairametrics in January 2026 show how heavy the clearing bill has become. The CEO of Stock Motor Cars, Edu Bassey, said the minimum clearing cost is about N3.2 million to N3.5 million, and many dealers have stopped importing 2004 to 2006 models because they are hovering above N10 million with little or no margin. He also pointed out that customs’ VIN assessment puts vehicles from 2000 to 2013 in the same tariff category, removing many outdated exemptions for very old vehicles.
Victor, the CEO of Autoviv Limited, said a Corolla that sold for N2.5 million to N3 million in 2023 now costs several times more, and the 2003 Corolla has risen from N300,000 to N400,000 to N2.3 million to clear it. These are dealer statements, not official tariffs, so treat them as indicators of trends rather than specific prices.
For an in-depth look at the customs aspect, check out our guide on car import duties in Nigeria.
Tokunbo cars are listed at about N10 million or less
Nairametrics has released a list of Tokunbo cars it says can be bought for N10 million or less. These were the price ranges quoted in the January 2026 article and may have moved since then:
- Toyota Camry LE (2007 to 2009): N8.5m to N10m. The 2.4L four-cylinder is the common, more fuel-efficient choice, with widely available parts and mechanics.
- Honda Civic (2006 to 2007): N7m to N9m. Perfect for city commuters and small families.
- Honda Accord (2008 to 2009): N8m to N9.5m. Please inspect carefully before paying.
- Toyota Corolla (2003 to 2006): N8m to N9.5m. A sensible first car, around 28 to 32 mpg combined is quoted.
- Toyota RAV4 (2003 to 2004): N8m to N9.5m. 2.0L petrol, around 20 to 24 mpg in real world driving.
- Toyota Sienna (2005 to 2007): N9m to N10m. Three queues for transport business, but running costs are high.
- Honda Odyssey (2004 to 2005): N8.5m to N10m. V6 means higher fuel consumption.
- Acura MDX (2004 to 2005): N8m to N9.5m. Roughly 17 mpg city.
- Lexus LS 460 (2007): N8m to N10m. Premium fuel and a V8, so budget for fuel and maintenance.
Nairametrics lists an older Camry (2003 to 2005), but its own title and body text give different prices, so check with the seller directly.
Cheap is not always cheap
A low sticker on a V6 SUV or luxury sedan can hide a big running bill. Here’s how to think about total cost of ownership:
- Purchase Price: What the dealer quotes, and whether it is duty-paid.
- Registration, plates and documents: Add this before you commit.
- Insurance: At least third party is mandatory; Comprehensive cover costs more for pricier models. Check out our car insurance Nigeria guide.
- Fuel: A 4-cylinder Corolla or Camry sips significantly less gasoline than a V6 Sienna or MDX when gasoline is expensive.
- Maintenance and parts: Toyota and Honda parts are easy to find in Ladipo and other markets; Luxury and less common brands cost more and take longer.
- Buffer repair: Keep a reserve for tires, suspension and air conditioning on older cars.
Tokunbo vs Nigerian-Used: Which is Better?
Foreign-used (tokunbo) cars usually come with cleaner histories and lower odometer readings, but you pay for shipping and clearing. Nigerian-used cars avoid clearing, yet condition varies greatly and you inherit the previous owner’s maintenance habits. Whichever you choose, insist on a physical inspection by an independent mechanic.
CHECKLIST BEFORE PAYMENT
- Get the VIN and ensure that the customs documents match the vehicle.
- Ask if the price includes clearing, or for the car still at port.
- Check for flood and accident damage, which is common in imported stock.
- Do a test drive on bad roads with the AC on and listen to the gearbox and suspension noise.
- Avoid paying individuals in full upfront; Use a registered dealer or escrow where possible.
- If financing, compare offers in our Car Loans Nigeria guide.
Imperfection to know about
Older cars carry a higher risk of breakdowns, poorer safety features and often poorer fuel economy. Duty banding quoted by dealers means a very old car is no longer a guaranteed bargain. And as import values rise, expect continued price pressures rather than lower prices.
Key takeaways and FAQs
Key takeaway: Clearing bills in 2026, not car age, drives Tokunbo car prices in Nigeria. Budget for landed costs, choose simple models with simple parts, and inspect before paying
Is N10 million enough for a Tokunbo car in Nigeria?
It can buy older Camry, Accord, Corolla or RAV4 units, according to dealer listings cited in January 2026, but quality varies and prices likely have shifted.
Why are some Tokunbo cars so expensive now?
Sellers cite high clearing costs, exchange rates and shipping, and customs valuations that combine 2000 to 2013 vehicles.
Which Tokunbo Cars Are Best For Fuel Economy?
Of the models listed, four-cylinder Corollas, Civics and Camrys are generally the most economical.
Disclaimer: Car prices, import duties and specifications in Nigeria change frequently, so always confirm current figures with the dealer or official source before buying.