Trisha Shetty (Editor)

Tokunbo Vehicle

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Tokunbo Vehicle is the local name ascribed to used vehicles imported from Europe in Nigeria. In Nigeria, the Tokunbo market signifies the place where different kinds of used items such as electronics, cars, and domestic goods are sold These products are popular among the lower-middle class who cannot afford new cars often called Tear Rubber

Contents

Background

Tokunbo market represents one of the few ways to determine the strength or soundness of an economy because it's create a dumping ground of used and hazardous products from developed nations to the developing ones.Therefore, a nation with such an engagement could be showing effect of economic deficiency. This products are imported through our sea port and land border ( Cotonou e.g. Tin can Island in Apapa According to the expert in the market, model which is the year of manufacture of the product is determine by the life span of such product

Negative impact of engaging in Tokunbo Market

  • Most times this product appears not to be cost effective because it's a resultant effect of a product that have been used for several years before being sold to the second buyer. Due to the geographical changes on the product destination. They are prone to incessant fault.
  • The involvement in this investment by a nation will not permit the indigenous company manufacturing vehicle to thrive. Thereby, shrinking the gross domestic product by discourage local investor in the industry.
  • The need to invest in spiritual engagement to avert the negative implication of the original owner i.e. stolen vehicle
  • it turns a country to a dumping ground for toxic items which recycled in the country of import. This might later lead to health hazard in the nearest future.
  • References

    Tokunbo Vehicle Wikipedia