Elizade JAC Autoland Limited has entered a strategic partnership with Access Bank to broaden access to affordable vehicle financing and accelerate vehicle ownership for individuals and businesses nationwide.

The agreement was formalised at Elizade JAC Autoland’s headquarters in Lagos, with senior executives from both organisations in attendance.

The collaboration is designed to improve access to credit, support Small and Medium Enterprises (SMEs) and strengthen Nigeria’s automotive value chain.
Under the partnership, Access Bank would offer dedicated vehicle financing to customers purchasing vehicles from Elizade JAC Autoland.

The structure includes equity contributions starting from 10 per cent, repayment tenors of up to 48 months, and interest rates positioned below prevailing market levels.
The financing process targets a turnaround time of no more than 72 hours, with simplified eligibility requirements.

Speaking at the signing, Elizade JAC Autoland’s Managing Director, Demola Ade-Ojo, said the partnership aligned financing with vehicle distribution to support income generation and enterprise growth.

Ade-Ojo added that the initiative would make brand-new vehicle ownership more accessible and convenient.

Access Bank executives said the arrangement prioritises speed, simplicity and customer experience, with a focus on reducing bottlenecks and lowering barriers to mobility for retail and SME customers.

The bank noted that the financing structure was intentionally designed to address current market conditions and improve affordability.
On capacity to meet expected demand, Elizade JAC Autoland’s management said the company was positioned to scale supply, deploy a wide range of affordable automobile products and expand import capacity in line with nationwide demand, while strengthening financing support to drive sustainable growth.

The Access Bank deal builds on Elizade JAC Autoland’s broader strategy of partnering with financial institutions to expand vehicle ownership.

In February 2025, the company announced a similar financing collaboration with Sterling Bank Plc, which offered flexible repayment tenors of up to four years and purchase incentives for qualifying customers.

Head, SME Lagos & South West at Access Bank, Arinze Osuachala, described the collaboration as far more than a transactional arrangement.
Addressing concerns around Nigeria’s challenging financial landscape, he explained that the partnership was intentionally structured to lower barriers.

“This partnership represents the strength of Access Bank’s services both individually and through our broader network. It is more than just financing; it is a gateway to greater opportunity for individuals and businesses.

“We are designing this partnership to ensure vehicle finance is fully integrated and accessible. The interest rates are below today’s market rates, and the equity contribution required is about 10 per cent. These structural elements are in place to make mobility more accessible for everyone.”