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Transportation business in Nigeria: Helping to curb the nation's transport challenges

By Edited Aug 12, 2015 0 0

The transport industry in Nigeria is one in which there is very little or no government involvement. As a result, the provision of transport services is left in the hands of private individuals, thereby making it a very lucrative business venture. It should be noted that a very large percentage of Nigeria’s population depend on commercial transportation for their daily movement. Hence as a student, you can seize this opportunity and earn some real money.

Starting a transportation business requires owning a car or bus, and this may cost between a minimum of 150,000 – 250,000 Naira (a huge amount of money by the average student’s standard). However, there are some students who may be able to afford to raise the money. Where a particular student cannot afford to raise the money, he/she can come together with other students of like minds and form a partnership or an investment club. Hence, they can pool their resources together float the business.

- For starters, it is advisable to get a very good second-hand car (Tokunbo), as this is cheaper and easier to acquire for students. It is important to get a car with good fuel economy.

- The next step is to register the car as a commercial car with the ministry of transport.

- You can also register the car with the motor park in charge of the route which you would want the vehicle to ply (this is not compulsory, but is advisable).

- After that, the next step is to get a good driver to operate the business. It is advisable to get a driver that you know very well, someone that is very trustworthy, so you won’t have problems in the course of his rendering accounts to you. After this, you are ready to begin to earn money for yourself.

The transport business is a very lucrative business that can give you returns from between 1500 – 4,500 naira in a day (depending on your agreement with the driver). As time goes by, you can decide to invest the money you have made in other lucrative ventures...remember...every Naira begins with a kobo, start something today!

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