RismadarVoice Reporters
September 27, 2026
Elizade JAC Motors has announced a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to support truck ownership among small and medium-sized businesses through bank financing.
The initiative focuses on enterprises that depend on hired transport or ageing vehicles for deliveries. It offers trucks with carrying capacities ranging from 1.6 tonnes to 10 tonnes, with petrol, hybrid compressed natural gas (CNG) and diesel options.
A financing illustration presented during an engagement with business owners provided for a 20 per cent initial contribution, an annual interest rate of 25 per cent and repayment over four years. Monthly instalments for the 1.6-tonne model were estimated at below ₦800,000 under that illustration.
The company also outlined a reservation arrangement involving a 10 per cent payment while a participating bank processes financing. It said buyers making larger initial contributions could potentially complete acquisition sooner.
Elizade JAC Motors Chief Operating Officer, Arvind Bhardwaj, said the programme seeks to help businesses channel regular transport expenditure into assets they own.
He said the company’s comparison of vehicle ownership costs showed that maintenance and repairs could erode the initial savings from buying a used truck. Its assessment estimated an additional ₦8.7 million in expenditure over five years for a used vehicle compared with a new JAC truck.
Senior Brand Manager, Olumide Olaokun, said petrol and hybrid CNG variants are available for the 1.6-tonne model, while the 3-tonne, 5-tonne and 10-tonne trucks run on diesel. He put the hybrid CNG model’s range at approximately 120 kilometres per tank, adding that potential operating savings depend on the availability of CNG infrastructure.
SMEDAN’s South-West Zonal Coordinator, Olukayode Shode, said improved access to finance and business assets could help SMEs address transport constraints and strengthen productivity.
The company said its support package includes a three-year warranty, three years of basic servicing and access to approximately 39 service centres. Participants at the engagement were offered a two per cent vehicle discount.
Although SMEs are the principal target, Elizade JAC Motors said the initiative is also open to other business owners.
