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Finance commercial vehicle purchase, Lanre Shittu director urges FG
The Group Executive Director of Lanre Shittu Motors (LSM), Mr Taiwo Shittu, has advised the Federal Government and other finance institutions in the country to finance vehicles for commercial operations since they guarantee quicker returns on investment.
He said this would boost employment opportunities and facilitate speedy rejuvenation of the nation’s auto industry.
Shittu, an experienced auto salesman, told journalists in Lagos recently that “If we believe in Nigeria, we must do away with used vehicles. It’s part of the sacrifice that we need to make. We can start by making it look unattractive to reduce the volume being imported”.
He said, “We have to look for a good finance scheme to support the new vehicle purchase. It is not that Nigerians don’t like new vehicles; it is because finance is not there. And where there is a finance arrangement, the issue is the cost and how to pay back. If I’m buying a car on loan for my comfort, I may be skeptical about how to pay back without a reliable income.
“Government should therefore focus more on how to finance the commercial segment of the new vehicles purchase. Since the vehicles are going to be used for business, it will be easy to pay back the loans.”
He explained, “Giving a loan to anyone to buy a vehicle that will be used for business is like an asset that will bring back money.”
The LSM director, whose company now operates a successful auto assembly facility in Lagos, added, “There is no way you will buy a new truck on loan for a business venture and you will not make back the money in one and a half years. And this is a truck that will still be on the road for 15 years or more.”
On the value chain, he said, “Look at the farmers in the North producing tomatoes and others, most of these perishable food items get destroyed in the farm because they cannot afford the high cost of transporting these goods to the big markets in cities like Lagos and Abuja. “The cost of moving the items from Kano to Lagos can be as high as N1 million. How many of these peasant farmers can afford that?
“But if the government can have a finance scheme for new commercial vehicles, they would be able to buy the vehicles and promptly move the goods to Lagos, Ibadan, Port Harcourt, Aba, Onitsha, Abuja and those places with high population. More people would be encouraged to return to the farm and do more.”
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Toyota moves to ease vehicle ownership amid economic challenges
Toyota Nigeria unveils plans to ease vehicle ownership
As rising costs put car ownership beyond the reach of many Nigerians, Toyota Nigeria Limited says it is rolling out fresh measures to make buying and maintaining vehicles easier for customers.
Managing Director, Mr. Kunle Ade-Ojo, announced the plans at the company’s 2026 Awards and Customers’ Night in Lagos, where he reaffirmed Toyota’s commitment to expanding mobility solutions in the country.
A statement on Thursday quoted Ade-Ojo as saying Toyota Nigeria would continue to innovate and introduce strategies that would enable more Nigerians to own and maintain Toyota vehicles while enjoying quality after-sales support.
According to him, the company’s commitment goes beyond selling vehicles to ensuring customers enjoy a seamless ownership experience through a robust nationwide service network.
“We will continue to innovate, adapt and elevate our product offerings and service delivery. Our ambition remains clear: to sustain industry leadership while contributing meaningfully to Nigeria’s economic development as a responsible corporate citizen,” he said.
He added that the company’s future plans are aligned with Toyota’s global vision of enriching lives through mobility, with a strong focus on innovation, sustainability and value creation.
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Ade-Ojo noted that Toyota Nigeria’s success over the years had been driven by the loyalty of customers, support from dealers, suppliers, employees, financial institutions and strategic partners, as well as the guidance of the company’s board led by its founder and chairman, Chief Michael Ade-Ojo.
The highlight of the event was the presentation of the Evergreen Customer of the Year Award to Zenith Bank Plc, which retained the title as Toyota Nigeria’s highest-volume customer for 2025. In recognition of the achievement, Chief Michael Ade-Ojo presented the bank with the keys to a brand-new Toyota Starlet Cross.
AGL Motors emerged overall winner in the Customer of the Year category, while the Nigerian Army and Zenith Bank were named first and second runners-up respectively. The winners received office equipment valued at several millions of naira.
Toyota Nigeria also honoured excellence in automotive journalism. Theodore Opara of Vanguard was named Journalist of the Year, while Mike Ochonma of Transport World and Rasheed Bisiriyu of Newstrends received awards for their contributions to automotive reporting, mobility advocacy and industry analysis.
Speaking at the event, several dealers and business partners commended Toyota Nigeria’s investments in dealer development, technical training and workshop upgrades, describing the initiatives as critical to sustaining high service standards and customer satisfaction across the country.
Toyota Nigeria unveils plans to ease vehicle ownership
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Zenith Bank tops awards list as Toyota Nigeria celebrates three decades of excellence (plus photos)
Zenith Bank tops awards list as Toyota Nigeria celebrates three decades of excellence (plus photos)
Zenith Bank Plc has emerged as the biggest winner at the 2026 Toyota Awards and Customers’ Night, clinching the coveted Evergreen Customer of the Year Award for the second consecutive year in recognition of its exceptional patronage of Toyota vehicles over the past five years.
The colourful event, held on Friday, May 5, 2026, at The Podium Event Centre in Lekki, Lagos, brought together an impressive gathering of customers, dealers, government officials, corporate partners, media practitioners and industry stakeholders to celebrate the achievements of Toyota Nigeria Limited (TNL) and strengthen the partnerships that have sustained its leadership in Nigeria’s automotive industry.

The annual awards ceremony serves as a platform to reward loyal customers, honour strategic partners and reinforce the company’s customer-first philosophy.
The highlight of the evening came when representatives of Zenith Bank were invited to the stage to receive the prestigious award for purchasing the highest number of Toyota vehicles from TNL dealerships in 2025.
The banking giant also secured the same honour last year after emerging as the customer with the highest cumulative vehicle purchases between 2020 and 2024.
In recognition of the feat, Chairman and founder of Toyota Nigeria Limited, Chief Michael Ade-Ojo, presented Zenith Bank with the keys to a brand-new Toyota Starlet Cross.
The competition in the Customer of the Year category was equally keen. AGL Motors emerged as the overall winner, while the Nigerian Army and Zenith Bank finished as first and second runners-up respectively. The winners received office equipment worth several millions of naira.
The 2026 edition of the awards carried special significance as Toyota Nigeria celebrated its 30th anniversary, marking three decades of operations since its establishment in 1996.
In keeping with its tradition of recognising contributors across its business ecosystem, Toyota Nigeria also honoured outstanding automotive journalists whose reports and analyses helped shape public understanding of developments in the industry.
Veteran motoring journalist, Theodore Opara of Vanguard, was named Journalist of the Year for his consistent coverage of the automotive sector and insightful reporting on industry trends and Toyota’s innovations.

Mike Ochonma of Transport World emerged as the runner-up, while Rasheed Bisiriyu of Newstrends was recognised as the second runner-up for their contributions to automotive journalism, particularly in the areas of vehicle technology, mobility solutions and market analysis.ĺ
Earlier in his keynote address, Managing Director of TNL, Kunle Ade-Ojo reflected on the company’s journey, describing the milestone as a testament to resilience, innovation and customer loyalty.
“Tonight is a moment of reflection, celebration and renewed commitment,” he said.
“For us at Toyota Nigeria, this annual gathering is more than a tradition. It is a deliberate expression of our enduring philosophy of putting the customer first. It provides a unique platform to honour the loyalty, trust and partnership that have defined our journey over the years.”
According to him, Toyota Nigeria has evolved from modest beginnings into one of the country’s most trusted automotive brands through a relentless focus on quality, reliability and service excellence.
“Since commencing operations in 1996, our journey has been defined by resilience, growth and transformation. Our progress over the past three decades has been anchored on one unwavering principle—creating value for our customers.
“Beyond delivering vehicles that meet diverse mobility needs, we have invested significantly in building a nationwide after-sales ecosystem designed to provide a seamless and premium ownership experience.”
Ade-Ojo assured customers and stakeholders that Toyota Nigeria would continue to innovate and improve its products and services despite prevailing economic challenges.
Several dealers and business partners used the occasion to commend Toyota Nigeria for its continuous investments in dealer development, training initiatives and workshop upgrades aimed at improving service delivery nationwide.
Ade-Ojo expressed gratitude to Toyota Nigeria’s extensive network of stakeholders, including dealers, customers, suppliers, consultants, financial institutions and employees.

“The journey of the past 30 years would not have been possible without the unwavering support and contributions of our stakeholders,” he said.

The managing director also acknowledged the support of Toyota Nigeria’s principal partner, Toyota Motor Corporation, as well as the company’s board of directors led by Chief Ade.Ojo.
He further assured customers that Toyota Nigeria would continue to introduce customer-friendly initiatives designed to make vehicle ownership more accessible despite economic headwinds.
“Despite the monumental challenges in the economy, Toyota Nigeria will continue to devise means that will enable our customers to enjoy their preferred auto brand—Toyota. We will continue to initiate customer-friendly business improvement strategies aimed at making our vehicles more affordable.”
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Toyota Motor Show Ignites Youth Interest in Future Mobility
Toyota Motor Show Ignites Youth Interest in Future Mobility
Toyota Nigeria Limited turned the spotlight on the next generation of tech leaders and automotive enthusiasts at the 2026 Toyota Motor Show.
Held at The Podium in Lekki, Lagos, the four-day exhibition dedicated its second day entirely to fueling youth innovation, featuring high-stakes academic battles, technical workshops, and star-studded panels.
The youth-focused itinerary kicked off with an intensive Technical Workshop led by Toyota Nigeria’s Master Technician and Key Instructor, Saheed Shorinola.
The masterclass set the stage for a thrilling day of intellectual rivalry, where students and young professionals put their creativity and analytical skills to the test.
Brilliant Minds Battle for N1.550 million in Cash Prizes.

The atmosphere electrified as two powerhouse student teams clashed in a debate centred on the future of mobility and technological innovation.
• The Debate Champions: Team A—comprising Robinson Goodness, Esabu Blessing, and Igbayisemore Tony—clinched victory after a fiercely contested argument, walking away with the N600,000 grand prize.

The Runners-Up: Team B, featuring Akinware Breakthrough, Yusuf Rahimat, and Dawn Ijaware, put up a stellar defense to secure the N300,000 runner-up prize.
Intellectual fireworks continued during a high-speed automotive quiz. After multiple elimination rounds testing deep knowledge of vehicle mechanics and Toyota history, the final three emerged triumphant:
• 1st Place (N250,000): Feyisetan Tolase Emmanuel
• 2nd Place (N150,000): Ayorinde Bolarinwa
• 3rd Place (N100,000): Shobowale Oladimeji.
. Mario Chukwuma, Aduloju Oluwatomiwa and Abdulsemiu Ayodeji came 4th, 5th and 6th respectively, going home with N50,000 each as event reward.
Star-Studded Judging and Corporate Vision
The brilliant performances drew high praise from the judges’ bench, which was chaired by award-winning actress and social advocate Kate Henshaw.
“The future remains bright when young people are encouraged to embrace knowledge and innovation,” Henshaw remarked, praising the contestants’ confidence and analytical depth.
Also on the panel were TV personality and influencer Somadina ‘Soma’ Anyama, Toyota Nigeria’s Head of Service Sylvester Enwere, and Head of Dealer Development and Special Projects, Henry Ojuoko.
“Toyota’s mission goes beyond selling vehicles,” said Ojuoko. “It is about inspiring curiosity and encouraging young Nigerians to explore massive opportunities in technology, mobility, and innovation.”

Cars, Comedy, and Beats: A 4-Day Spectacle
The Motor Show, which ran from June 2 to June 4 and June 6, was described as a masterclass in brand engagement.
• On the Track: Visitors enjoyed exclusive test drives of flagship models, including the Camry, RAV4, Land Cruiser, Corolla, and Hilux, alongside receiving free vehicle diagnostic services.
• In the Crowds: Popular comedian and content creator Mama Deola took over day 3, bringing her signature humour to the showroom floor while highlighting vehicle features for fans.
• The Grand Finale: The exhibition wrapped up on Saturday with an explosive DJ/music festival of sort, hosted by celebrity On-Air-Personality Dotun. The highlight was the “DJ Bump Off”—a heated wheels-of-steel battle featuring four top DJs, where the delectable female DJ Medusa, out-mixed the competition to take home the crown.
By blending education, high-stakes competition, and top-tier entertainment, Toyota Nigeria Limited has once again proved that the future of mobility is not just about the machines—it’s about the people driving the conversation.
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