In 2025, smart procurement is no longer optional—it’s essential for fleet managers and logistics investors in Nigeria. With rising demand, evolving import rules, and fresh financing options, every naira spent on truck acquisition must deliver value. In this high-stakes landscape, knowing the market, regulations, and funding channels isn’t just prudent—it’s your competitive edge.
Market Trends & Pricing Landscape
Nigeria’s Truck Market Momentum
Nigeria’s heavy-duty and freight trucking sectors are growing, driven by expanding industrial activity, e-commerce, and limited rail alternatives. These forces are fueling strong truck demand and investment opportunities. Sources: 6Wresearch, Trade.gov
Forecast reports indicate sustained growth through 2025 and beyond in truck sales, volumes, and market value. Sources: MarketScreener, IndexBox
Pricing Developments
Historically, average import price per truck spiked to about $48,000 in 2016, then moderated from 2017 to 2024. Source: IndexBox
In the local used-truck marketplace, listings start at ₦800,000, with a wide range up to several million naira depending on model and condition. Source: Jiji Nigeria
Import and Regulatory Considerations
Customs, Duties & Age Restrictions
Nigeria enforces a strict maximum 12-year age limit for imported used vehicles—only models from 2015 onward are cleared. Source: 234Drive
Automotive import tariffs remain steep—up to 70% combined duty & levy—though trucks and buses attract slightly lower rates. Source: National Economy
Smooth Import Processing
The Single Window Trade Portal streamlines documentation, customs clearance, and electronic payments from 12 government agencies. Source: Trade.gov
A 90-day amnesty window for regularizing certain vehicle import duties has recently been announced. Source: Vanguard News
Compliance must include up-to-date vehicle documents, strict adherence to age restrictions, and working with reputable clearing agents. Source: WheelMax
Financing Options for Truck Acquisition
Digital Financing Platforms
Autochek operates Africa’s first online truck-loans marketplace, offering access to vetted trucks and financing via partners like Kobo360. Sources: Business Insider Africa, Daily Trust
Moove, a Nigeria-founded fintech, enables revenue-based vehicle financing and plans to introduce 45,000 new vehicles by end-2025. Source: Reuters
Government-backed Credit Support
CREDICORP, Nigeria’s development finance body, launched “S.C.A.L.E.” in late 2024: a single-digit-rate credit scheme supporting locally manufactured vehicle purchases. Ecobank joined in early 2025 to distribute these funds. Source: Wikipedia
Traditional Loans & Leasing
Major banks like Stanbic IBTC offer vehicle and asset finance, suitable for both brand-new and used truck acquisitions. Source: stanbicibtcbank.com
Online platforms such as BuyCars.ng enable flexible installments for trucks and commercial vehicles. Source: BuyCars.NG
Brand-New vs Used Truck Procurement Strategies
Buying Brand-New Trucks
- Advantages: Peace of mind with warranties, latest specs, and compliance with regulations.
- Considerations: High upfront costs; leverage manufacturer financing or CREDICORP-backed loans when available.
Acquiring Used (Tokunbo) Trucks
- Advantages: Lower capital requirement, faster entry.
- Risks: Hidden maintenance costs, age limit restrictions (max 10 or 12 years), compliance risk.
- Best Practices:
- Use platforms with inspection reports (e.g., Autochek’s 150-point check)
- Factor in maintenance history and potential repair costs before purchase.
Procurement Steps (Bullet Summary)
- Define your fleet needs: capacity, fuel type, purpose (logistics, construction, etc.).
- Choose source: new vs used; evaluate compliance, cost, and lifespan.
- Secure financing: explore Moove, Autochek, CREDICORP, or bank loans.
- Handle import documentation: CAC registration, Form M, SONCAP, PAAR via Single Window.
- Evaluate duties and tariffs: consider high import duties, available amnesty windows, and age restrictions.
- Select trusted dealer/clearing agent for transparency and efficiency.
- Inspect thoroughly (for used trucks)—budget for repairs if needed.
- Deploy and monitor performance, iterating strategies for efficiency.
Procurement in Nigeria’s current trucking landscape demands sharp strategy: understanding market trends, navigating import rules, and unlocking the right financing sources can dramatically improve fleet ROI. Whether you're scaling with new models or optimizing through reliable used units, smart planning wins the game.
Ready to streamline your acquisition process? Rebtor’s Truck Acquisition Support Services offers tailored guidance, from sourcing to customs clearance and financing. Contact us today to power your 2025 fleet growth.