BYD is Now Officially in Nigeria. Here's What It Means for Prices

The gala was held at Alliance Francaise Ikoyi, Lagos. There were speeches, spotlights, and a promise that Nigerians would no longer have to go through informal dealers to get a BYD. On March 28, 2025, LOXEA Nigeria became the exclusive authorised BYD distributor in the country, and two models stepped onto the stage: the Atto 3 and the Dolphin.

That was just over a year ago. So we went back to the numbers. We checked the official LOXEA estimates, pulled live listings from Jiji.ng and Carlots.ng, and asked the question every buyer wants answered: has the official launch actually made BYDs cheaper?

What Happened on March 28, 2025

LOXEA Nigeria is a subsidiary of CFAO Mobility, the largest automotive distributor in sub-Saharan Africa, operating across 30+ African countries. The launch introduced two models for immediate purchase: the BYD Atto 3 compact SUV and the BYD Dolphin hatchback.

Showrooms opened on Victoria Island (Plot 642F Akin Adesola Street), Ikeja, Wuse II Abuja, and Port Harcourt GRA. Enugu and Onitsha locations are planned. Nigeria's first official BYD charging station is installed at the Victoria Island showroom, and LOXEA offers home charging installation for customers who buy through them.

The Official Prices (Estimated)

Here is the first thing you need to know: LOXEA has not published a formal price list. The numbers below are market estimates from multiple sources. You will need to visit a showroom for a confirmed quote.

Model	Official LOXEA Estimate	Status
BYD Dolphin	pricing not yet confirmed by LOXEA	On sale now
BYD Atto 3	N28M - N36M	On sale now
BYD Song Plus DM-i	N28M - N33M	Not yet officially stocked
BYD Seagull	N15M - N18M	Expected; not yet on sale
BYD Tang	N45M - N50M	Not yet officially stocked
BYD E1	N12M - N14M	Expected; not yet on sale

What Grey Market Dealers Are Actually Charging

As of April 2026, there are 68 BYD listings on Jiji.ng. All are described as "Brand New," meaning unregistered parallel imports from dealers who sourced the vehicles outside the official LOXEA channel. Here is what they are asking:

Model	Grey Market Price (Jiji.ng)	Official LOXEA Estimate
BYD Song Plus DM-i (2025)	N58M - N88M	N28M - N33M
BYD Seagull (2025)	N37M	N15M - N18M
BYD E2 (2025)	N45M - N45.5M	Not yet estimated
BYD Destroyer 05 DM-i (2025)	N68M - N75M	Not yet estimated
BYD Yuan Plus (2025)	N75M - N85M	Not yet estimated

On Carlots.ng, only two BYD listings appeared: a 2025 Seagull at N37M in Asokoro, and a 2024 Song Pro Hybrid at N47M in Garki. Neither is LOXEA stock. On Autochek.africa, just two BYD listings exist in total, with a 2022 BYD L3 at N58,015,000 with 500 km on the clock.

Has the Official Launch Pushed Grey Market Prices Down?

Not yet. Not in any measurable way.

The most direct comparison you can make is on the Song Plus DM-i: grey market dealers are asking N58M to N88M. The official LOXEA estimate for the same model is N28M to N33M. That is not a small gap. That is grey market dealers charging up to 2.7 times the official estimate for the same car.

The reason prices have not collapsed is structural. LOXEA currently stocks only the Atto 3 and Dolphin. The grey market is selling models that LOXEA has not officially brought in yet: the Song Plus, Yuan Plus, Seagull, Destroyer. There is no official alternative to undercut them.

It is not competition yet. It is two separate markets operating side by side. Once LOXEA begins stocking those other models, the pressure will become real. But that has not happened as of April 2026.

Why It Still Matters That BYD Is Here Officially

The price story is only part of it. The bigger difference between official and grey market is what happens after you drive off the lot.

LOXEA's package includes charging station installation, maintenance, repair services, and genuine spare parts. Stanbic IBTC Bank has partnered with LOXEA to offer EV-specific financing, including flexible loans, lower interest rates, and trade-in options. Grey market dealers offer none of this as standard.

Nigeria has only 12 public EV charging and battery-swapping sites nationwide as of late 2025. If your grey market car develops a fault, you are largely on your own. That is the wahala no one mentions when they post those Jiji listings.

The Import Rule Change That Grey Dealers Don't Want You to Know

Nigeria's 2025 EV import rule changes restricted parallel imports to vehicles manufactured in 2015 or later. This eliminated the cheapest segment of the grey market, the older used EVs that once undercut everything. What remains on Jiji and Carlots is newer, pricier stock. That is partly why grey market prices look the way they do right now.

The new structure also brought EVs down from a combined tariff that could reach 70% for standard vehicles. EVs now face 10 to 20% import duty plus a 15% NAC Levy, with VAT exemption. SONCAP certification from the Standards Organisation of Nigeria is now mandatory for all imported EVs. If your dealer cannot show you SONCAP documentation, walk away.

The Cost That Actually Moves People

Sam Faleye, CEO of Saglev, an independent Lagos EV dealer, put it plainly: "The actual EV story in Africa is not actually climate change but economic."

He is right. Lagos ride-hailing drivers were spending N18,000 to N20,000 per day on petrol in early 2025, against an average daily income of roughly N13,000. Running the same routes on electricity costs under N4,000 per day.

Commercial fleets using EVs report 40% operational cost savings versus petrol. EV registrations in Nigeria grew 143% in the 18 months to early 2026. The market is moving not because of BYD's gala night in Ikoyi, but because fuel at N950 per litre has made the maths impossible to ignore.

What Happens Next

CFAO launched LOXEA in Benin on April 29, 2025, and in Gabon on June 10, 2025. The West Africa expansion is deliberate and methodical. In Nigeria, the planned additions to the model range include the Seagull, Song Plus DM-i, Tang, and E1. When those models arrive officially, grey market dealers selling the same cars at two to three times the price will face real pressure.

BYD's overseas NEV sales hit a record 120,000 units in March 2026. The volumes are there. The question is how fast official supply reaches Lagos showrooms.

On the policy side, the Nigerian government's 2025 Electric Vehicle Bill mandates local assembly and requires 30% local component sourcing by 2030. A January 2026 Nigeria-South Korea deal targets 300,000 annual EV vehicle production. If either of those materialises, the import-and-resell model that grey dealers depend on faces a longer-term challenge.

What These Cost on ChargeWay

You do not have to navigate the import process alone. ChargeWay sources quality tested used EVs direct from China at wholesale pricing. Every vehicle is properly inspected before it ships. Here is what you could pay right now:

Model	FOB Price	Est. Landed Price	Range
BYD Seagull	$10,000	~N18,500,000	305 km
Neta V	$12,000	~N22,000,000	380 km
BYD Dolphin	$16,000	~N28,000,000	427 km

These are estimated wholesale prices for quality tested vehicles, shipped direct from China. No middleman markup, no dealer premium. Final prices depend on current exchange rates at time of order. Visit chargeway.africa/cars for live pricing and available stock.