Piggyvest and Mikano Motors Launch Car Savings Initiative

Piggyvest has introduced a car savings plan in collaboration with Mikano Motors, enabling Nigerians to save incrementally for brand-new vehicles. Customers can choose their preferred Mikano vehicle on the Piggyvest platform and establish a savings target based on the vehicle's price.

The savings can be spread over three months to one year. The initiative aims to assist those who find it challenging to pay the full amount upfront.

Once the savings target is met, Piggyvest will notify Mikano Motors to process the vehicle delivery. Joshua Chibueze, co-founder and Chief Marketing Officer of Piggyvest, stated that the plan was inspired by users already saving for cars on the platform.

The Piggyvest Savings Report 2025 indicated that nearly three in five Nigerians earn ₦100,000 or less monthly, with only about one in ten households owning a car. Vehicles available under the plan start at around ₦20 million, with a six-year or 200,000-kilometre warranty.

Early participants who complete their savings within a year can receive a ₦2 million cashback.