The Transportation business in Nigeria is a very lucrative business to venture into notwithstanding all odds. This post will provide solution on "What are the requirements to start a transportation business in Nigeria?" as well as provide answers to questions like: what are the types of transportation business in Nigeria? How do I start a transport company? How much does it cost to start a transport business? Is bus business profitable in Nigeria? How do I succeed in transportation business?
- Motor cycling or Okada: For transporting passengers within a town, city and villages
- Tri-cycling or keke napep: This is an advanced form to Okada and officially meant to carry three passengers
- Commercial Luxury Bus and Mini-Bus: Used both in the town and inter-city services to carry passengers
- Car Town Service or Taxi: Used to convey passengers within and out of the state. It is a more secure means of transport than the unregistered and unpainted "along-along" because each owner registers the car with the state government agency
- Haulage Transport Service: The use of different types of automobile including tipper, trailerler, tanker and others to carry goods for a charge
- Offer Hire Purchase Services: This type of business for example, an entrepreneur buys ten tri-cycle at ?500,000 each and hire each one out at ?700,000 each with ten months instalment of ?70,000 each month, after which the hirer becomes the owner. If the entrepreneur received all the instalments, he makes ?200,000 from each of the tri-cycle
- Choose the name of the transport business
- Register with C.A.C (co-operate affairs commission)
- Decide on the type of transportation business you want to carry out
- Choose your location and the routes that are lucrative
- Obtain your vehicle either through lease, hire purchase or an outright buy
- Have a knowledge about automobiles and driving
- Employ a professional driver/drivers as the case may be
- Be innovative
- Register with the National Association of Road Transport Workers (NURTW)