2020 vs 2025 Prices: You will not believe how much these cars cost now

Five years ago, ₦2 million could get you a solid, reliable car.

Back then, buying a Toyota Corolla, Honda Accord, or even a mid-range SUV wasn’t such a big deal. Fast forward to 2025, and the story has completely changed. Inflation, exchange rate fluctuations, import duties, and the rising cost of shipping have all pushed car prices through the roof.

Today, many Nigerians look back at 2020 prices with nostalgia, wondering how cars that once cost a few million naira now go for double, triple, or even more. Below is a breakdown of popular cars in Nigeria and how their prices have changed between 2020 and 2025.

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The Toyota Camry, nicknamed “muscle” in Nigeria, has always been a favourite among professionals and families. It is known for its durability and easy maintenance. From ₦5m to ₦15m in 2025, this car has become more of a luxury choice than the go-to mid-range sedan it used to be.

The RX350 is the dream car for many Nigerians who love comfort and prestige. In 2020, ₦9m could get you a neat one. Today, the same SUV goes for ₦23m, putting it beyond the reach of the average buyer. Its unique selling point remains luxury and smooth performance.

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The RAV4 is popular among young families and women who want something stylish but still practical. At ₦13m in 2020, it was expensive but attainable. In 2025, the price has skyrocketed to ₦30m, showing just how brutal inflation has been on SUVs.

The BMW X6 has always been about status. In 2020, ₦10m could land you this sleek “big boy” car. Today, you’ll need at least ₦18m. While its maintenance costs are higher than Toyotas or Hondas, the X6 is still a head-turner on Nigerian roads.

The Elantra was once the entry-level professional car. For under ₦2m, you had a stylish, fuel-efficient ride. In 2025, at ₦5m, it’s no longer cheap. Still, it remains one of the more affordable options compared to Toyota or Honda sedans.

The Honda Accord, aka “End of Discussion,” was one of Nigeria’s favourite sedans. At ₦2.5m in 2020, it was within reach for many middle-class families. By 2025, it’s now ₦8.5m, triple the price, but still loved for its comfort and performance.

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This is perhaps the biggest shocker on the list. In 2020, ₦4m was enough to buy a clean GLK. Fast forward to 2025, and the same SUV costs a jaw-dropping ₦25m. It remains a favourite, though, for those who want style and status, but it now competes in price with newer luxury SUVs.

The Sorento was once an affordable family SUV. In 2020, ₦2.6m could get you one. By 2025, it costs ₦15.5m, making it one of the cars that saw the steepest jumps in price.

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The Civic is known for reliability and fuel economy, making it a young professional favourite. At ₦1.5m in 2020, it was one of the cheapest cars on the market. Today, it costs ₦8.5m, nearly six times the price.

The Toyota Venza has long been the “family dream car” in Nigeria. In 2020, it cost ₦6m. In 2025, it now goes for ₦18m. Despite the price, its comfort and reliability keep it in high demand.

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The Highlander is the ultimate family SUV. At ₦12m in 2020, it was considered high but worth it. Today, at ₦30m, it’s one of the most expensive Toyotas in Nigeria, yet demand remains strong because of its space and performance.

The Hilux is Nigeria’s rugged workhorse, loved by businesses, contractors, and security agencies. From ₦6m in 2020 to ₦18m in 2025, it has tripled in price but is still unmatched in durability.

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The Honda Pilot is another family-friendly SUV. At ₦5.5m in 2020, it was affordable for upper-middle-class families. In 2025, it’s ₦14m but is still a popular choice for large households.

The ES350 blends luxury with affordability. At ₦4m in 2020, it was a bargain. Now at ₦12m, it’s still a favourite among professionals looking for comfort without going full Mercedes or BMW.

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The Corolla has always been Nigeria’s most common car. In 2020, ₦1.5m could get you one. In 2025, the same model goes for ₦9m, proving just how much inflation has battered even the most basic cars.

Looking at these prices, one thing is clear: the Nigerian car market has changed drastically in just five years. What was once considered affordable is now out of reach for many. Inflation, exchange rates, and import challenges have pushed cars into luxury territory. The good old days are gone, and for most Nigerians, owning a car in 2025 might just have become an unachievable dream.

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