I bought my first car at 28. A used Toyota Camry. I felt like I had arrived. Three years later, I sold it. And I have never been happier. Let me break down the math for you. Monthly fuel: ₦80,000. Insurance: ₦15,000. Maintenance and random mechanic wahala: ₦40,000. Parking at my office: ₦20,000. Unexpected repairs: ₦30,000. Car wash and detailing: ₦10,000. Total: roughly ₦195,000 monthly. And that is not counting the ₦5.5 million I spent buying it. Now? I spend about ₦120,000 monthly on Uber and Bolt combined. I never worry about traffic stress. I work in the backseat. I never visit a mechanic. I never panic when fuel prices jump. I have saved ₦500,000 monthly by eliminating car ownership costs and stress. I invested that in mutual funds. In one year, my investment returned more than the car ever gave me. Nigerian society equates car ownership with success. But in Lagos traffic, a car is a prison. You sit in heat, inhaling danfo fumes, while your Uber driver suffers for you. You arrive at meetings drained instead of prepared. The status is not worth the suffering. Is car ownership in Lagos actually a liability disguised as an asset? Or is the freedom and status worth the cost? And drivers, would you give up your car if you did the math? Let's calculate together.
