I am planning to start a passenger transport service from Lagos to Abuja and the rest of the states in Nigeria as there is insufficient supply of such services.
In Nigeria, having a population of over 162 million people, the largest in Africa and still rising, however being a country where almost 90 percent are of low class level, the passenger transportation business provides a great opportunity to facilitate the less wealthy population and meanwhile generate revenues.
Our transportation service will be better than the competition because I will get a new bus and then attract customers with a new style by providing security, which is the major problem in Nigeria. I will also offer online bookings for passengers, etc.
The aviation sector in Nigeria is not functioning well due to corrupt practices and embezzlement. Therefore, the transportation business is taking over Nigeria’s transportation industry. To additionally secure my business, I will also partner with an insurance company and insure all my vehicles.
In Nigerian currency the business will bring an average of almost 2 million 500 thousand Naira, which is a good amount to start a business with.
I am looking for an equity investor in the business, which will bring 5% ROI in 2 years.