How the 2026 Nigerian Tax Reform just changed the math for every car owner.
but here is the real thing..,
Nigeria’s automotive landscape has reached a clash of the titans moment. Petrol is no longer just expensive; it is a luxury expense that competes with your monthly rent.
I’m sure you have paused often time and ask, if you are just working hard to feed your car, or you are really working hard to spend your money on yourself.
Here’s the thing,
Is toyota camry better than electric car in nigeria?
if you are looking for a car that wont make you spend money, then th Hyunda Kona is the best fit
Under the New Tax Reform Laws ( As is now effective), Electric cars and their spare parts are now 100% VAT and Import Adjustment Tax exempt, while petrol vehicles face a new 5% fuel surcharge.
Here is the 10-year “Naira to Naira” battle between a Toyota Camry (Petrol) and a Hyundai Kona EV.
1. The 10-Year Cost Comparison (Projected in 2026 Naira)
- Assumptions: 15,000 km driven per year; Petrol at ₦1,100/L; Electricity at Band A rates (₦209/kWh).
Comparison Table
| Expense Category | Toyota Camry (Petrol) | Hyundai Kona EV | The EV Difference |
| Purchase Price (New) | ₦45,000,000 | ₦52,000,000 | -₦7,000,000 (Loss) |
| Total Fuel / Power | ₦18,500,000 | ₦4,800,000 | +₦13,700,000 (Saving) |
| Maintenance \& Oil | ₦5,200,000 | ₦1,100,000 | +₦4,100,000 (Saving) |
| Tax \& Duties (2026) | ₦6,750,000 (Incl. VAT) | ₦0 (Exempt) | +₦6,750,000 (Saving) |
| Home Solar Setup | ₦0 | ₦4,500,000 | -₦4,500,000 (Loss) |
NET 10-YEAR COST ₦75,450,000 ₦62,400,000 +₦13,050,000 SAVED (Things may change abit the above astimation is base on when I was writing this )
2. The Fuel War: Why EV Wins
In 2026, the cost of fueling an EV in Nigeria is roughly 75% cheaper than petrol. Sometime, if you drive a car, you’d ask how long would this continue?
- The Petrol Reality: A Camry gets about 10km/L. At ₦1,100 per liter, driving to work and back (40km) costs you ₦4,400 daily.
- The EV Reality: At Band A electricity rates (₦209/kWh), that same 40km trip costs you roughly ₦1,050. ( The cost fuel as of when I was writing this)
but you can be smart that means, If you invest ₦4.5M in a 5kVA Solar System, your daily commute costs effectively zero for the next 20 years. In 2026, this is the ultimate hedge against inflation.
3. Maintenance: No Plugs, No Belts, No Stress
The Hyundai Kona EV has about 20 moving parts compared to the Camry’s 2,000.
Over 10 years: You will never buy engine oil, spark plugs, fuel filters, or timing belts.
The “Brake” Benefit: Because EVs use Regenerative Braking, your brake pads in a Kona EV will likely last 100,000 km, whereas the Camry will need 3–4 sets in that time.
4. The 2026 NEPA Factor
The biggest risk in 2026 isn’t the car; it’s the grid. let me gist you.
Band A Advantage: but you may ask, how does that change the price of bread and egg? if it does at least you will appreciate the fact that,
If your home is on Band A (20+ hours of light), you can charge your Kona from 10% to 100% overnight for about ₦13,000. That gives you 450km of range enough for a full week of Lagos traffic. or your location.
The Battery Life: Modern LFP batteries (like those in the 2026 Kona) are rated for 3,000 charge cycles. In Nigeria, that means the battery will likely outlast the car’s suspension, lasting 12–15 years before needing replacement.
ok cool i know, the hardship of things right now, but think it, if youi get a car that will save you cost and in fact you will have extra money in your pocket to even buy akara show while you walk home, won’t you like that?
5. Resale Value
While the Electric cars saves you ₦13M in cash, the Toyota Camry will still be easier to sell in the Tokunbo market maybe even in 2028.
here’s why!
Nigerians trust Toyota. An EV is still seen as high tech. and if you doubt that abit, think of how people are reluctant to adopting EV in Nigeria
But to maximize your 10-year wealth, you must reinvest the ₦13M fuel savings. If you save that money instead of spending it, the EV is the superior financial vehicle by a wide margin.
But you may want to ask, lawrencegotkeys, Should I go Electric in Nigeria?
ok let me answer that in a simplke way,
BUY THE ELECTRIC CAR IF: You live in good location maybe good road, a secure compound to charge in, and drive more than 30km a day. The savings are massive.
BUY THE TOYOTA IF: You travel frequently to rural areas where charging infrastructure doesn’t exist yet, or if you plan to sell the car in less than 3 years.
So now, if the a rich friend abroad want to gift you a car, would you prefer an electric casr ber push to you or you prefer a car that you will spenbd money buying fuel?
Feel free to share that with me, I have provide my number and social handles in case ypou nmeed help on what’ll be best for you. CHECK ABOUT PAGE!!
