The transport industry in Nigeria is booming currently and Nigerians can now create unlimited wealth from this sector. In fact, this is one of the fastest growing business opportunities in Nigeria.
If you have been looking forward to creating additional streams of income to make your dream come true, then you can stop the search right now. Why? Because you have just come to the place where you will discover the fastest and easiest way to start earning money on your own that will help you turn your dreams into reality.
Nigeria has the largest road network in West Africa and the second largest south of the Sahara, with roughly 108,000 km of surfaced roads. The population is there and the environment is good. The road transportation is a good business, and more people should come into it. It is a business anybody can do.
How to Make Money Running a Road Transport Business
To succeed in transport business, you must first be ready to invest your time and effort to make it work. Proper supervision is also very important especially if you are going to employ a driver to manage it for you. But above all, you must give the best of your time and be serious with the business.
In this business, honesty and hustling spirit should be your tenets. There a lot of lenders willing to finance your business. With genuineness in your approach and proper planning, getting funding will not be difficult. If you have the opportunity to collect one or two Buses, or trucks from some of the financiers; you have to pay back the debt as at when due. This way, the confidence they have in you will increase and they can give you any number of vehicles you want. Below are the Different Sectors of the Road Transport Industry that You Can Target and Make Money
1. Okada Transportation business (Commercial Motorcycle)
The advent of okada in the national transportation system started in the early eighties, their operation has grown tremendously to a force that could be reckoned with. The names were usually a reflection of what the motorcycle transportation represents. In Cross River/Akwa-Ibom axis, it was nicknamed “akauke” meaning “are you going .” In Ibo land, it was nicknamed “Ina-aga,” meaning, “are you going.”
These names clearly illustrate the fact that once the traveler was ready, the motorcycles were also ready to convey the passengers to their destinations in no time. In Yoruba land it was called “tatakpukpu”, an onomatopoeia representing the sound of the motorcycle. To the Edo State indigenes, Okada Air, represented the fastest means of traveling from Benin to Lagos, just as the motorcycle was the fastest means of traveling between any two points. It was for this simple reason that the Edos nicknamed the motorcycle mode of transport okada.
Out of all the nick-names mentioned above, only okada seemed to have survived and has come to be accepted generally in Nigeria as the official nickname for commercial motorcycle operation. Okada riders are making between N1,500 to N2000 a day. You can lease Okada out while you make as much as N50,000. For instance if you buy an Okada for N90,000, the driver should pay as much as N130,000 within four to six months depending on the contractual terms A new motorcycle goes for N75,000 to N90,000 depending on the brand.
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Tunji Afuwape is a small business finance consultant and expert. He is the CEO of 21st Strategies. He provides “how-to” advice on small business and home-based work issues. His organization helps small businesses reach their fullest potential.
Contact him via tunjiafuwape@yahoo.com, info@21stplacelive.com +237 08033224392
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