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Cars45, Kia Trade Over 300 Vehicles, Unlock New Value Opportunities in Nigeria’s Automobile Industry

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L-R: Vice President, Trading, Cars45, Mohammed Iyamu; Vice President, Business Development, Kia Motors Nigeria, Olu Tikolo; Chief Financial Officer, Car45, Olajide Adamolekun; Marketing Manager, Kia Motors Nigeria, Olawale Jimoh; and Head of Operations, Carsbazr, John Egwu at the Car45 and Kia Motors parley which held in Lagos
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Riding on its partnership with KIA Motors, Nigeria’s leading online marketplace to buy, sell or swap a car, Cars45 has carried out over 300 transactions on KIA vehicles since the partnership was announced in January 2018.

 

This disclosure was made in Lagos where both companies announced that they were expanding the partnership to accommodate more car brands which enables consumers to have more choices when they want to buy, sell or swap their cars through Cars45 at any KIA location across the country.

 

Speaking on the partnership Jide Adamolekun, Chief Financial Officer, Cars45, noted that the partnership has improved car ownership in Nigeria.

 

“We launched this partnership January last year and at the end of the year, we reassessed how far we have gone and examined the opportunities that we have created in the Nigerian market.

 

Cars 45 carried out over 300 transactions via this relationship last year and we have seen the future where by making more brands available to consumers we will help unlock more value in the nation’s automotive space”, Adamolekun said.

 

He added that “we are proud that we have enabled consumers on their journey irrespective of whatever side of the economic spectrum they fall.

 

“We hope to move with KIA beyond our current operations in Lagos, Port Harcourt and Abuja to new cities and territories across the country making cars affordable to the Nigerian populace.”

 

Speaking on the value of the partnership, Olawale Jimoh, Marketing Manager, KIA averred that it has been a very wonderful and rewarding experience which has seen both parties record so many gains.

 

“We have seen the sale of used KIA cars rise as Cars45’s structured arrangement of buying and selling used cars has brought transparency and credibility, taking away the associated stress with selling locally used vehicles,” Jimoh stated.

 

Furthermore, he said, “it is against the backdrop of the successes recorded that we are now expanding this relationship to a more robust arrangement such that regardless of the car brand that you are driving, you can experience the rich range of value offerings provided by Cars45.”

 

Vice President, Trading, Cars45, Mohammed Iyamu expressed his happiness that the progress made on this journey has been impressive by all standards.

 

“We did about three hundred cars last year, we are looking to triple that volume, go to other cities and grow in leaps and bounds this year.

 

“A missing link in Nigeria’s automotive industry is financing. If you look at a market like say South Africa, 70 percent of the cars on the road are financed one way or another.

 

“Cars45’s trade-in/ swap scheme has served as a means of financing for many and so we would be looking at adding more value to this partnership end to end”.

 

On next steps, Iyamu said that, “we are looking to provide new services to our customers that include repairs and workshop services, we are also looking to partner with other service providers in the automobile industry especially those who deal in accessories and also partner with financial institutions to provide financing for certified Cars45 car purchases.”

 

The event also provided an opportunity for Cars45 to showcase the achievements of its sister brand, Carsbazr which provides a stress-free experience for Nigerians to buy verified locally used cars that they can trust at the best prices.

 

According to John Egwu, Head of Operations, Carsbazr, “affordability is at the heart of what we do.

 

“Whatever car you are looking to buy at your individual price point, we’ve got you covered.

 

“All our cars have a standard report and there are no hidden details about any cars.

 

“Our weekly live auctions, which have become a game changer within the automobile community in Nigeria, also provide a great opportunity where people are able to go home with vehicles that they can afford in a convivial and fun environment.”

 

 

 

 

 

 

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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