How to capitalize on the Nigerian auto industry boom

How to capitalize on the Nigerian auto industry boom

Are you interested in doing business in the transportation industry? Do you want to take advantage of the many opportunities of road transport? Then this article is for you

Currently, the transport industry in Nigeria is booming and now Nigerians can create unlimited wealth in this sector. In fact, it is one of the fastest growing business opportunities in Nigeria.

If you are eager to create additional sources of income to make your dream come true, you can stop looking now. Why me>? Because you have just come to the place where you will find the fastest, easiest way to start making money on your own, which will help you make your dreams come true.

Nigeria has the largest road network in West Africa and the second largest in sub-Saharan Africa, with approximately 108,000 km of paved roads. The people and the environment are good. road transport is good business and more people should participate. It is a business that anyone can do.

To be successful in the transportation industry, you must first be prepared to invest your time and effort to make it work. Good supervision is also very important, especially if you are going to hire a driver to operate it. But, above all, you need to spend as much time as possible and be serious about it.

In this business, your principles must be honest and strong. There are many lenders ready to finance your business. With the sincerity of your approach and good planning, it won’t be difficult to secure financing. If you have the possibility of recovering one or two buses or a truck from certain financiers; You have to pay off the debt on time. This way their confidence in you will increase and they will be able to offer you the number of vehicles you want. Below are the different road transport industries that you can target and earn money

1. transport company in Okada ( Commercial motorcycle )

The okada’s beginnings in the national transportation system began in the early 1980s, and their operation has become a force to be reckoned with. The names generally reflected what the motorcycle was. On the Cross River / Aqua Ib axis, he was nicknamed “ Akauke “, Which means” you will “. On earth because he was nicknamed” Ina-aha. ” , “Means” You will “.

These names clearly illustrate that once the traveler was ready, the motorcycles were also ready to take passengers to their destinations in no time. In Yoruba country it was called tatakpukpu , onomatopoeia representing the sound of a motorcycle. For residents of Edo State, Okada Air was the fastest way to travel from Benin to Lagos, just as a motorcycle was the fastest way to travel between two points. It is for this simple reason that Edos called the motorcycle the okada mode of transport.

Of all the aliases mentioned above, only okada seems to have survived, and in general it is generally accepted in Nigeria as the official pseudonym for riding commercial motorcycles. Okada runners earn between 1,500 and 2,000 N2 per day. You can hire Okada for a maximum of N50,000. For example, if you buy Okada for N70,000, the driver must pay up to N120,000 over four to six months depending on the terms of the contract. The new bike will cost N65 up to N80,000 depending on the brand.

2. Motorized tricycles ( tricycles )

Keke NAPEP is an experimental model of poverty eradication that aims to ensure that poor Nigerians who are unemployed or underemployed are placed in a position where they can create measurable and verifiable value in society in order to earn a living. The KEKE NAPEP vehicle project, the pet of former President Olusegun Obasanjo, under which the National Poverty Eradication Program ( NAPEP ).

NAPEP buys vehicles from manufacturers ( Autobahn ) and sold at subsidized rates, on a partial payment basis to Nigerians to reduce poverty by providing small business and transport opportunities for much of the country. However, various brands of tricycle are now available in Nigeria, with an average tricycle earning 5,000 N per day and a new tricycle selling between 400,000 and 500,000 N. They currently have an association called Nigeria Three Wheeler Beneficiaries / Operators Association.

3. Commercial buses and taxis

They are very relevant in the transportation industry as they help move people to various destinations. Commercial taxis range from NOT 3000 to NOT 5,000 per day, while small buses make between 10,000 and 40,000 N per day depending on the route and the number of passengers on board.Some financial institutions have been so generous by lending to the association, the National Union of Transport Workers road NURTW ), since the association provides a guarantee for such a loan, some private lenders also grant loans to new entrants in the sector.

4. Luxury bus

Luxury buses in Nigeria originated 59 years ago, when the Ekenedili Chukwu transport company became the main transport company in Nigeria. Today, many transport companies have grown with more buses in their fleets. There is an emerging market on the west coast because vacationers travel to the west coast. The west coast is a tourist paradise and many Nigerian luxury bus transport investors have moved to this west coast to earn more money. The luxury bus costs around NN 25million with a capacity of 57 to 59 people. The cost of the trip is 3,000 to 5,000 NN per trip and 150,000 to 200,000 NN per trip.

During peak periods or seasons which are at the end of the season of the year; they double their fares and receive on average 250,000 N per trip. Some operators have a fleet and take the buses of new members. Therefore, newcomers to the industry are advised to buy a bus and hand it over to some well-known transport company managers to run on their behalf. All you have to do is wait for the check to return at the end of each month.

5. Transport company

The transport is marketed as a forest fire. You will mainly enjoy what your truck does. Transport is a vast territory and all areas of transport have their own characteristics. The good news, however, is that learning the business isn’t that hard.

How you enter this business is up to you. You can decide to transport by big oil companies like TOTAL, OANDO, CONOIL or telecom companies like MTN, ZAIN, ETISALAT, GLO, etc., or by manufacturing companies like NESTLE, GLAXO, Nigerian breweries, etc.

However, all of the companies listed above have strict entry procedures and requirements, so choosing as an individual can mean merging with other people who are already in the company. All you have to do is sit down and wait for your monthly income. , which can reach 800,000,000 ( depending on the type, age and tonnage of your truck ). Even the country’s trucks are now insufficient to meet the needs of this sector.

Some financiers are ready to finance this project if you can convince them. My research brought me to some companies and I found that some Nigerians were constantly collecting this money, I saw a long list of signatures with the corresponding amount. Almost 90% of the trailers on our route are used and they are still correct, for starters, from N3M to 4M, you can get a good trailer

6. Dump truck

They transport granites from the quarry to different parts of the country. Any investor in this type of business is advised to register for the Carrière, he makes 2 trips per day and bills between N 30,000 and N 35,000 per trip. A good price for a dump truck is 4-5 million naira and you are entitled to around 40,000 NR. Per month. You can also pass your advice on to a manager who will take care of you.

In closing, I would like to personally congratulate you on your commitment to join one of the fastest growing companies in Nigeria and across the continent. This dream will definitely give you and your loved ones a very comfortable life.

Authors bio : Tunji Afuwape is a financial advisor and small business expert. He is the CEO of Strategy 21 and provides practical advice on small businesses and domestic work. His organization helps small businesses reach their full potential. You can read his full bio here and contact him for business advice as well.

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