₦airaland Forum

By popular demand, we have gone ahead to create a guide on how to get started in the motorcycle spare parts business. You can find the guide here - https://funtuagroup.com/how-to-start-a-motorcycle-spare-parts-business-the-complete-guide/

You can also visit here for more resources - https://funtuagroup.com/shop/

Rossintii:
Nigeria at 60: We Are Ready for Electric Cars, Says Innoson

By Chuks Collins, Awka

01 October 2020

https://i.pinimg.com/originals/63/cb/39/63cb3921b599f6819ecb2f7ff24ff3aa.jpg

Just as the Presidency unveils auto-gas as an option for fuel in the country, Innoson Vehicle Manufacturing Limited (IVM), has said the country is all ready for the world of electric car manufacturing.

Chief Executive Officer of the indigenous vehicle manufacturing company, Dr. Innocent Chukwuma, said IVM had planned ahead for the new era of innovation in automobiles and would drive the programme to success.

Chukwuma, who also marks his 60th birthday today, reminisced on the journey thus far, with optimism that indigenous production has a lot of prospects with national support.

He said the auto industry today is making progress, despite the peculiar circumstances in the country.

“The nation is doing its best to spearhead the direction of the industry in Africa. With the support of our citizens, in the next few years, Nigeria would be described as the hub of the auto industry in Africa.''

“We are very ready and prepared. Presently, we have not started to manufacture vehicle engines, what we are doing is the manufacture of the body of vehicles. So, if electric cars become the ultimate, we will then begin to buy batteries, instead of the engines we presently use. It’s that simple. That’s why I said we are prepared for the coming trend,” he said.

Chukwuma added that the local patronage was doing well, though could do better.

“It’s understandable that it will be progressively gradual. The corporate citizens, governments at all levels, and individuals are trying their best to patronise us. We are very confident that in the near future, we will have substantial patronage from them. It’s indeed improving steadily.

“Electricity is one of our challenges. Though, it is witnessing a commendable improvement. Actually, when we started there were a lot of challenges but today the government has done a lot to support the industry. We started when there was no electricity at all. But there is a lot of improvement today.”


Background

Born on October 1, 1960, to the family of Mr. and Mrs. Chukwuma Muojekwu, as the sixth and last child of the family, his arrival coincided with Independence Day. Hence it was a double celebration for the entire family.

He didn’t waste time to make a foray into the corporate world even as an assistant to one of his elder brothers – Gabriel Chukwuma (popularly known as Gabros) in his patent medicine retail shop, while he awaited the result of his Joint Admission and Matriculation Examination. He had applied to read Mechanical Engineering. Unfortunately, he could not make the required cut-off point.

It didn’t take long before his brother, Gabros discovers his young brother’s deep talent in the business. Consequently, he sent him to Chief Pius Chukwuma, the elder brother to Dr. Cosmas Maduka (Coscharis) to learn motor/motorcycle spare parts trade.

As a take-off fund to start his own business when he concluded his apprenticeship training under Maduka in 1981, he got N4000 from Gabros. Within a short space of time, young Innocent turned the N4000 into a conglomerate of international repute.

Dr. Chukwuma, like a mustard seed, has blossomed in multidimensional sectors. He is endowed with a razor-sharp intellect and business acumen that has literally turned everything he touched into gold.

Today, he has become an entrepreneurial juggernaut, a child of destiny that has shattered all barriers and surpassed all expectations to succeed.

He became the first private Nigerian to locally assemble and subsequently manufacture the Innoson brands of Motorcycles and Motor vehicles in Nigeria. He shoved, braved, and persisted the rough and tough times and terrain of the nation’s business and economic environment to become one of the most accomplished Nigerians in the manufacturing industry today.

Among the brand range of Innoson Motors are sedans, SUVs, pick-up trucks, big and smaller commuter buses, rugged SUVs, and many more for everyone’s needs.

Dr Innocent Chukwuma by dint of hard work and perseverance moved steadily and sure-footedly from petty trading of buying and selling spare parts to importation, then now into manufacturing, distributing, and exporting various products including motor vehicles. He has become a giant in the manufacturing sector in Nigeria today.

Goodwill

To most of his friends, associates, and longstanding customers, Dr. Chukwuma’s birthday is a celebration of 60 years of industry and thinking outside the box.

He has seen it all – hardship, rough business terrain, challenges, and tough times. But because he persevered, his life and testimony have now become a cheering lesson to many.

In the words of his in-laws and close associate, Chief (Sir) Louis Carter Onwugbenu, Dr. Chukwuma “is a child of destiny that before he was even born, God had already marked him for what he is today. Such that, no efforts by detractors and enemies to frustrate his lofty dreams of taking the Nigerian manufacturing industry to a higher pedestal will succeed.”

Onwugbenu also urged governments at all levels to patronise IVM, considering that he has employed over 5,000 Nigerians.

Taking a cue from the British government where no government official is allowed to use any other vehicle brand except those manufactured in Britain, Onwugbenu appealed to the Federal Government to consider making Innoson brand of vehicles the official brand of government.

“This would in no small way bolster all that the Nnewi-based vehicle firm is doing. It would not only encourage foreign governments to buy more of it, create more room for employment, more credit, more taxes, and so on.”

https://guardian.ng/business-services/nigeria-at-60-we-are-ready-for-electric-cars-says-innoson/

FuntuaGroup:
People see many motorcycles around in different parts of Nigeria and it's amazing how people just use the okada and forget that there are ways to earn money from okada. Now some people use hire purchase to make money off okada but there are other ways to make money off the okada business.

Let me give you a hint - okadas use tubes and tyres that wear out really quickly. Where do the okada guys buy the parts to replace these things? Is there a gap you can fill there? Then you should learn how to tap into this business. [url]Read this[/url]https://funtuagroup.com/the-motorcycle-or-okada-spare-parts-busin/

By popular demand, we have gone ahead to create a guide on how to get started in the motorcycle spare parts business. You can find the guide here - https://funtuagroup.com/how-to-start-a-motorcycle-spare-parts-business-the-complete-guide/

You can also visit here for more resources - https://funtuagroup.com/shop/

When trying to choose a motorcycle type for a business or just to give out to people for the okada business, there are a couple of things one needs to consider. First, you check the Nigerian roads. Then you check how much funds is available. After funds, you may need to check out availability of replacement parts for the motorcycle type you want to go with. These and many more things should be considered. Read this post to learn more - https://funtuagroup.com/top-3-motorcycles-for-okada-business-in-nigeria/

donwise1:
What is the name of the strongest motorcycle product to use for okada business. I need at least five for the business.

They say 'We trust only in God, every other person should bring data'.

This sentence is becoming quite important in Nigeria as a growing economy. And this is because without data, you cannot make well informed decisions.

Well, the great part is this, would you be interested in knowing how much movement happens in the motorcycle spare parts business? Like what parts are the most highly sought after? What goods have the best returns and what goods are "Fast moving commodities" in the Motorcycle space?

If you are, then this is the right place to come to. The Funtua Group is making sure we keep detailed sales data to give you an idea of what happens in the Industry. Just follow this link to our contact page to request for it - https://funtuagroup.com/contact/

People see many motorcycles around in different parts of Nigeria and it's amazing how people just use the okada and forget that there are ways to earn money from okada. Now some people use hire purchase to make money off okada but there are other ways to make money off the okada business.

Let me give you a hint - okadas use tubes and tyres that wear out really quickly. Where do the okada guys buy the parts to replace these things? Is there a gap you can fill there? Then you should learn how to tap into this business. [url]Read this[/url]https://funtuagroup.com/the-motorcycle-or-okada-spare-parts-busin/

goldensom:
Please can i start a motorcycle spare parts business with 500k here in Nigeria

If you ask around, 500k is a very sum for even the Nwa boy that the Master settles for Okada business. Some get as little as 100k to start with and in about 2 years, they would be able to do more. So, 500k is definitely a great sum of money to start with.

Next thing to consider is the location of where you want your store to be. You need to consider if you want to be selling to end users or retailers. The location you choose to settle will help you make a better decision about whether to sell to end users or retailers.

Your next issue would be where to buy the goods at very great prices to be able to sell at great prices too. The profit in okada spare parts and motorcycle spare parts is made when you buy not when you sell. So you should look to buy from people who would not cheat you. Most people would recommend you keep your 500k in the bank and go work with a spare parts dealer for like 6 months to understand the business since you already have the money.

If you want to learn and grow at the same time, then make sure you choose a dealer that has access to all goods and their different types. This will save you the stress of haggling prices all over the place. This is the part where https://funtuagroup.com/Funtua Group can help you out with. We are a motorcycles spare part company based in Ibadan but with customers all around. If you need further help, shoot a mail to sales@funtuagroup.com or call our helpline on our https://funtuagroup.com/ Website.

If you are looking for genuine okada spare parts in Nigeria or you are trying to buy okada spare parts from any part of West Africa, your top choice should be The Funtua Group https://funtuagroup.com/.

The Funtua Group is the top rated choice for anyone looking to get genuine motorcycle spare parts in Nigeria. We stock a variety of top products from different importers and you can come to us for the best Okada tires, okada batteries, motorcycle tubes, okada tubes, fender, motorcycle headlamps, motorcycle speed clock and many others. We also deliver on Okada contracts for Govt agencies with after sales services.