I have come to the conclusion that Uber is not a profitable venture and you stand better odds of making profit if you keep your capital in fixed deposit or buy treasury bills. After my horrible experience with two of their 'certified' drivers, the last of which left my vehicle in a sorry state, I started to think within myself that would I give a stranger up to N3,000,000 to invest on my behalf? No way! Then why would I give a vehicle worth almost that much to an 'ill-recruited' driver to make money for both of us?

The only party that profits from Uber is Uber itself, all partners are mere scapegoats that have to pay bitterly for the atrocities committed by these drivers.

A word is enough for the wise! Don't put up your blood, sweat and tears on the Uber platform except you plan on being your own driver.

It's no longer as profitable as it use to be since they lowered barrier to entry and stopped the surge stuff. The best car for uber now is 2006/7 corrolla which will cost u like 2m and has a very good resale value

Transport business is generally profitable.

However, to succeed you need to consider some certain factors.

A car valued at 3M is way too much for Uber. How long will it take to recoup that amount plus profit?

Drivers are a major challenge, however most partners do not recruit properly.

I suggest a rigorous and very selective process. After the driver passes the Uber certification, go ahead and recruit based on your set standards.

My opinion any car above 1.5M is too much for Uber. You can even buy a used car if you know your way.