Business

FULL LIST: Top 10 “Tokunbo” Cars You Can Get For ₦3m–₦5m

Published

1 year ago

June 7, 2025

FULL LIST: Top 10 “Tokunbo” Cars You Can Get For ₦3m–₦5m

In Nigeria, “tokunbo” is referred to as fairly used or second-hand vehicles imported from countries like the United States, Canada, or parts of Europe. These cars are typically more affordable than brand-new ones and often come in better condition than locally used options.

If you’re in the market for a car today, your budget matters more than ever:

₦2 million to ₦3 million: You’ll need patience and a good dose of luck to land a decent deal.

₦5 million and above: You’re in a comfortable position. Expect a wider range of quality options.

₦3–₦5 million: It’s a tight spot, but not hopeless. While your choices are limited, there are still some solid buys out there.

Here are the 10 reliable tokunbo cars that fall within the ₦3–₦5 million range.

1. Toyota Solara (2003–2004) – The Sporty Coupe
Engine Options: 2.4L 4-cylinder or 3.3L V6

Fuel Type: Petrol

Transmission: Automatic

Fuel Economy: ~9-10 km/l

This car has a stylish 2-door design, a reliable Toyota engine with convertible option. It is perfect for those who want Camry reliability with a sporty twist. It shares most of its parts with the Camry, so repairs and maintenance are not hard in Nigeria. The V6 version gives more power, while the 4-cylinder keeps it fuel-efficient. Make sure the leather seats and interior trims haven’t suffered from sun damage, which is common in Nigeria’s hot climate.

2. Hyundai Santa Fe (2004)
Engine Options: 2.4L 4-cylinder or 2.7L V6

Fuel Type: Petrol

Transmission: Automatic/Manual

Fuel Economy: ~10-11 km/l

This is an affordable entry into the SUV world. This car is a stylish Korean SUV with a comfortable cabin and decent performance. Early models lacked a V6 engine, but later ones came fully equipped. It’s comfortable, stylish in its own way, and decent for family use or light travel. Just be cautious, some models come with electrical issues. When you are about to buy this car, watch out especially for this.

3. Nissan Micra (2002)
Engine: 1.0L or 1.4L 4-cylinder

Fuel Type: Petrol

Transmission: Manual (mostly)

Fuel Economy: ~14-16 km/l

With the high price of fuel, this car is perfect because of its excellent fuel economy. The 2002 Micra is a favourite among drivers because of its compact size and strong engine. It’s easy to park and reliable. Most of them are Tokunbo, but you can find Nigerian-used ones in great condition. It’s ideal for transporters, especially in Ibadan, and small business owners. It is also best for school runs and short-distance errands. With how old this car is, you would think this car should cost ₦2m.

4. Honda Civic (iRobot – 2006–2011)
Engine: 1.8L or 2.0L i-VTEC

Fuel Type: Petrol

Transmission: Automatic/Manual

Fuel Economy: ~11-13 km/l

You should buy this car because it has a stylish, reliable, and futuristic interior. It was nicknamed “iRobot” because of its space-age dashboard design. This Civic generation is a favourite in Nigeria for good reason. It’s strong, agile, and durable. The digital speedometer and smooth ride make it a joy to drive. When you are about to buy this car, look out for transmission issues in poorly maintained units and stick to low-mileage models.

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5. Toyota Camry (2002–2006) – “Big Daddy”
Engine: 2.4L 4-cylinder

Fuel Type: Petrol

Transmission: Automatic

Fuel Economy: ~10-12 km/l

This car is reliable, has cheap parts, and is great for long-distance travel. It is popularly known as “Big Daddy” or “Big for Nothing.” This Camry is a legend. It may look large, but it handles like a sedan and runs like a champ. Used heavily by transporters and working professionals alike. It is best for ride-hailing businesses and family rides.

6. Hyundai Accent (2006)
Engine: 1.4L or 1.6L

Fuel Type: Petrol

Transmission: Manual/Automatic

Fuel Economy: ~14-16 km/l

This is an extremely fuel-efficient car with a smooth ride. Believe it or not, the 2006 Accent is more expensive now in the used market than when it launched. That’s how much people value its fuel economy. It’s perfect for everyday commutes and can run on low fuel budgets. However, it is not ideal for big families or those who travel with a lot of luggage.

7. BMW E46 (1998–2005)
Engine Options: 2.5L, 2.8L, 3.0L Inline-6

Fuel Type: Petrol

Transmission: Manual/Automatic

Fuel Economy: ~9-11 km/l

The E46 is a beloved compact luxury sedan. It’s classy, sporty, and gives that signature German feel. If well-maintained, it’s a joy to drive. The biggest challenge is its maintenance. You’ll need a good mechanic and a budget for premium parts. It’s best found in Northern Nigeria (Kano, Kaduna), less corrosion due to the drier climate.

8. Honda Pilot (2004–2005)
Engine: 3.5L V6

Fuel Type: Petrol

Transmission: Automatic

Fuel Economy: ~9-11 km/l

The Pilot is spacious, comfortable, and functional. It’s great for large families or logistics use. However, it’s a bit thirsty when it comes to fuel. Also, watch out for oil consumption and worn-out suspension on high-mileage units. It has three rows of seats and is great for road trips. Just stick to one with a clean maintenance history.

9. Danfo (Commercial Bus)
Engine: 2.0L or 2.4L (Depending on model)

Fuel Type: Petrol/Diesel

Transmission: Manual

Fuel Economy: Variable

A Danfo bus is a business. This car used to be less than ₦3m at some point, but the new cost now is between ₦3.4M and ₦3.6M. It is a smart investment for anyone entering the transport business. It has a high-income potential and is practical for commercial use. When you are buying, budget for rebranding and minor body repairs.

10. Mazda Tribute (2004–2005)
Engine: 2.3L or 3.0L V6

Fuel Type: Petrol

Transmission: Automatic

Fuel Economy: ~9-11 km/l

Mazda’s Tribute was often overlooked but offers good value in the Nigerian market. It’s essentially a Ford Escape in Mazda skin, meaning cheap and available parts. It’s a practical option if you want an SUV but can’t afford a RAV4 or CR-V. It also shares components with the Ford Escape. It is rugged and roomy.

Thenationonlineng.net

Business

Dollar To Naira Exchange Rate Today, September 7th, 2026

Published

22 hours ago

September 7, 2026

Uthman Abdulganiyu

The Nigerian currency, Naira (₦), continued its battle against the United States dollar at the official foreign exchange market on Saturday.

Daily Voice reports that data from the Central Bank of Nigeria (CBN) showed that the local currency sold at ₦1,321.2160/1$ on Sunday.

The latest rate is the same as Saturday’s rate of ₦1,321.2160/1$.

At the parallel market (black market), however, the naira closed on Sunday at ₦1,400 to the dollar.

The offers by commercial banks, Bureau de Change (BDC) operators, and other foreign exchange dealers may, however, differ from the reference rates due to transaction margins and prevailing demand and supply conditions.

Market participants will continue to monitor foreign exchange inflows, demand for dollars, and CBN policies for indications of whether the naira can sustain its gains through the month.

Business

No More N15,000/Bag: BUA, Dangote, Lafarge, Others Announce Fresh Cement Prices

Published

3 days ago

September 5, 2026

Uthman Abdulganiyu

Cement prices in Nigeria remain elevated, with a 50kg bag selling for between ₦12,000 and ₦15,000 in many markets, putting further pressure on builders, contractors and Nigerians planning construction projects.

The latest market data shows that although some brands are currently available below the ₦15,000 mark, the industry remains significantly more expensive than it was at the end of 2025 and early 2026.

Recent market quotations show the following indicative prices for a 50kg bag:

Note: prices may vary by location and transportation costs.

These figures are based on a September 1 market report and can vary depending on location, transportation costs, dealer margins and supply conditions.

However, July industry data painted a more expensive picture. CementNet reported retail prices of ₦12,000 to ₦15,000, with Dangote selling for about ₦13,000–₦15,000, BUA at ₦12,000–₦14,500, and HBM Nigeria, formerly Lafarge Africa, at ₦12,000–₦13,500.

The latest figures suggest that cement prices may have eased from the highest quotations seen earlier in the year, but the broader trend remains upward.

In July, The Guardian reported that a 50kg bag typically sold for ₦12,500–₦15,000 across major markets including Lagos, Abuja and Abia.

The Federal Competition and Consumer Protection Commission (FCCPC) also reported that prices had reached between ₦13,000 and ₦15,000 in some locations during the first half of 2026.

This means the current ₦12,000–₦14,000 quotations for several major brands should be viewed as some market-level moderation rather than a broad collapse in cement prices.

Why cement remains high

High energy and transportation costs continue to weigh heavily on the industry. Cement manufacturing requires significant amounts of energy, while moving cement from factories and depots to retail markets adds further costs.

Location is also playing an important role. Buyers in areas farther from production centres can pay substantially more because of haulage and distribution expenses.

The situation is particularly significant because Nigeria has substantial cement production capacity, yet retail prices remain high. The Guardian reported that domestic production exceeds consumption, with surplus output exported to neighbouring countries.

Business

Salary Scale for Nigerian Workers Revealed After New Minimum Wage

Published

7 days ago

September 1, 2026

The Daily Voice

Nigerian civil servants on Grade Level 8 now earn between N1,479,276 and N1,914,514 annually, depending on their step within the scale, following the new minimum wage signed under President Bola Tinubu’s administration.

The figures fall under the Consolidated Public Service Salary Structure (CONPSS), the framework that governs pay across Nigeria’s federal civil service.

CONPSS covers 17 grade levels in total, and a worker’s position within each level is shaped by their qualifications, length of service, and performance record.

Grade Level 8 has 14 steps, with each step representing a progression in earnings. Below is the full breakdown:

The gap between the lowest and highest steps at this level amounts to N435,238, reflecting how significantly length of service can affect take-home pay within a single grade.

Interest in the salary structure has grown since Tinubu’s government approved a new national minimum wage, which triggered a review of earnings across the public sector. Civil servants and job seekers have been keenly examining each grade level to understand what the adjusted structure means in practical terms.

Workers at Grade Level 8 are typically mid-level employees with some years of experience in the civil service. Their earnings sit above the entry-level grades but below the senior cadre, making this level a reference point for many who are planning career progression within the federal workforce.