Full List: Tokunbo and Nigerian-Used Cars Selling Below ₦10 Million

Nigerians can still buy Toyota Corolla, Camry, Honda Accord, Hyundai Elantra and Kia Rio for less than ₦10 million, but the market is now tilted towards Nigerian-used cars. Foreign-used cars, popularly called Tokunbo, are available in fewer numbers within that budget.

A review of current listings across major Nigerian automobile marketplaces shows that Toyota, Honda, Hyundai and Kia still have several models advertised below ₦10 million. Buyers looking in this range will find considerably more Nigerian-used cars than Tokunbo units.

What the market data shows

Cars45's current inventory gives a sense of the market. The platform has 239 vehicles advertised below ₦3.5 million and another 958 between ₦3.5 million and ₦7 million.

Examples seen include Toyota Corolla 2004 to 2015 at ₦3.49 million to ₦9.56 million, Toyota Camry 2003 to 2011 at ₦2.81 million to ₦9.56 million, Honda Accord 2003 to 2009 at ₦2.28 million to ₦7.28, Hyundai Elantra 2009 to 2016 at ₦3.26 million to ₦9.98 million, and selected older Kia Rio models around ₦5 million and above.

Corolla and Camry prices

For Toyota Corolla, Cars45 listings include a locally used 2004 model at about ₦3.49 million, a 2007 model at ₦5.06 million and a 2011 model at ₦5.63 million. A 2015 Nigerian-used Corolla was advertised at ₦7.33 million, while another 2011 model was listed at ₦9.56 million. Autochek also lists locally used Corollas, including a 2009 model at ₦5.5 million and a 2010 model at ₦7.7 million. A foreign-used 2017 Corolla on Cars45 was advertised at ₦18.56 million, according to a recent listing by Cars45.

The Camry also offers several options below the ₦10 million ceiling. Cars45 lists locally used 2009 Camrys around ₦5.4 million to ₦5.57 million, a 2010 model at ₦5.67 million and a 2011 model at ₦9 million. Selected Tokunbo 2010 Camry listings include foreign-used examples at approximately ₦9.45 million and ₦9.73 million, although another is already above the limit at ₦10.5 million. Nairametrics earlier estimated foreign-used 2007 to 2009 Camry LE models at approximately ₦8.5 million to ₦10 million.

Honda, Hyundai and import costs

Honda buyers can enter with considerably less. Cars45 listings include Nigerian-used Accords from about ₦2.28 million for a 2003 model and ₦2.89 million for a 2007 model. A 2008 Accord was listed at ₦3.68 million, while 2009 examples appeared around ₦5.72 million to ₦5.82 million. A foreign-used 2015 Accord was advertised at ₦10.5 million, just beyond the budget.

Hyundai Elantra offers another alternative. Current listings include a Nigerian-used 2009 Elantra at ₦3.26 million and a 2014 model at ₦6.41 million. A locally used 2016 model was listed at ₦9.45 million. Some foreign-used Elantras also fall below ₦10 million, including 2012 and 2013 examples advertised between roughly ₦9.35 million and ₦9.98 million. Buyers prepared to look beyond Toyota and Honda could get a newer model year while staying within budget.

Nigeria has reduced some tariffs on vehicle imports under its 2026 fiscal measures. The Nigeria Customs Service disclosed that the tariff on used vehicles was reduced from 15% to 5%, while the tariff on new vehicles dropped from 20% to 10%, Premium Times reported. Exchange rates, shipping, clearing charges and other costs continue to affect the final price consumers pay.

For Nigerians with a strict ₦10 million budget, the market still offers choices. But the evidence suggests buyers increasingly face a trade-off: choose an older Tokunbo car or get a potentially newer Nigerian-used vehicle for the same money. Passenger motor car imports jumped 145.6% year-on-year to ₦1.18 trillion in the first half of 2026, highlighting strong demand despite rising living costs and the challenges of bringing cars into the country.