₦airaland Forum

pope191:
Boss I'll say don't put beyond 1.6m as start up capital. If you can do 25/30k a day. 4 days that's 100k/120k weekly, 400/480k a week.

Gas 20k/23k
Commission 10k/12k

Take home 70k/85k weekly

My car doesn't really cost much to maintain and I use groundnut oil not more then 10k to service at every 3k. Truth is ever since I have been driving, I have not been thro any regrettably stress or borrowed money to fix car. I am always grateful self when car breaks down and I need like 3 days to fix. Time to rest and brainstorm... always a positive vibes to take out in every situation

[color=royalblue]So with 85k weekly (Lets keep 10k for maintenance and peg it at 75k)

So with 75k weekly, i will recoup my investment in 30 weeks?

7 months?
[/color]

pope191:
On transport issues, I brainstorm a lot. What is the cost of this bus. Is this the only bus going to Abuja? Do you know someone can as well enter 10k to Abuja from Lagos? It is about your convenience, you took a preferred bus and this is the point I say it is more than transportation, but service rendered. Maybe when will learn the difference, we will start seeing things from different angle.

NB : you can't compare highway transportation to ehailling. With the insecurity and risk involved? I wont play God to gamble with fate, because He is the only one that knows tomorrow, but highway? Make they no call person to come carry em car for Ore one day or big bros are asking for their cuts after grabbing men

[color=royalblue]You are not getting my point, bros

I am not saying it wasn't my choice or that you can't get to Abuja cheaper

I am saying that if they planned on recouping their investment on that bus in 2 years, they would do all they can to meet that deadline

That means if the prices of its parts changes, the fare must change
If the price of fuel changes, the fare must change
If the prices of tyre and Engine oil changes, they will look into the fare

It is not the same for Uber. Even if dollar goes to 1600, the fare remains the same. That will definitely elongate the stipulated time to break even.

That's my point

NB: That bus is about 35 million now[/color]

Itsrm:
Those men no like stress

[color=royalblue]

Uber driver go dey move Lagos up and down.

For them, one Lagosian is enough to move for a day [/color]

pope191:
Yes I just tot of this. They have a local name for them. Boss we still deh funky and tosh. The moment matter don enter going to market to be loading car. That car is about to kick bucket. Still goes down to needless stress a man in is 50/60/70s should not be facing.

They are things I don't want to be talking again. Like I always say ehailing is a trap one getting out should take his/her time to find something more worthwhile and not all this slight comparison. Have you observe the numbers of young able guys doing security lately? Sometimes I wonder how much they pay them and if they are not wasting their youthful age. My ignorance, I always see them from the angle of lazy folks, but life maybe having a toll on them inbetween.

[color=royalblue]I am not saying people should leave the hustle.

I am simply saying we should really understand what it takes to break even; If there is somebody that has, he should educate the thread on how he did it.

The ridiculous fares makes it longer to break even in comparison with the rising cost of parts.

I entered this bus last year August to Abuja. I paid 17,100

I entered it last week to Abuja. I paid 23,500.

As long as their fares are dynamic, they can break even as expected[/color]

Itsrm:
The cab that used to take my friend to Luth charges 18k daily. He picks him up in the morning, waits for him and latest by 3pm, he's back. He said the driver buys fuel of 3k and pockets 15k daily. Soft work . Imagine the mountains a Bolt driver will move to net 15k

When I asked why he doesn't use Bolt, he said the road to the place he was staying was bad and quite some distance from the main road. It was very difficult if not impossible getting a bolt driver.

[color=royalblue]I see them in markets naa

The money those guys make on a good day is the net earnings of a Bolt driver in two days

Imagine netting 15k with enough time to sleep under a tree.[/color]

pope191:
I don't usually do Bolt unless there's surge. Bolt without surge will obviously get me thinking of another way to get by with life. My first day on ehailing (uber) 11am to 1am. Drove empty home after watching farmcity girls was 3k after gas and commission 100% introvert from the mainland seeing another side or life on the island you can imagine.

But as a one time soldier, you should know Bolt takes from A and gives to B. At the end, it is the gross that matter and not trip per head.

[color=royalblue]I would really love to see a car owner on Uber giving us a comprehensive analysis on how he broke even.

Because to be honest, with the rising cost in prices of everything this hustle needs, i wonder how it is feasible; I am not saying it isn't oh

Almost every force is against this hustle...I have never heard of prices of parts and oil decreasing, but the fares are the same for most periods.

The fare is even against the hustle[/color]

pope191:
Well, I barely seen them during the day, maybe island is not part of there route. And about bolt bringing 1998. I think uber has always allow from 2000. Allow 1998 is one thing, riders not kicking them out of business is another.

[color=royalblue]Most people use Baba Iyabo to carry load.

Go to markets, and you'll see people using them to carry goods.
[/color]

pope191:
This calls for a deep tot. We always have this saying that Bolt has pushed baba Iyabo out of business. Airport drivers are angry with Bolt drivers. How true is this? Are these guys truly out of business? They used to have a taxi pack in my area. Every morning wile coming out, I always pity for them, because I don't know who will leave a cheap service for them. The are no longer there again. I guess they hot tired if sleeping their eyes out. Now back to baba Iyabo, you barely see them in the day, this I am certain. At night around 12 midnight, you will see the sleeping on their bonnet waiting for clients to devour (jokes). I won't take opportunist as business. As much as I wish to have their kind of heart and peace of mind. If I don't see ride for an hour, all my body will be itching me. For them? They don't mind coming out and going home empty. So I think.

For the airport camry guys? Here is one business model I am yet to study. A guy once told me to invest in it with a return of 150k weekly. Paper work is always easy. I honestly don't know much about airport rides, but I know they have low turn around time compare to ehailing.

[color=royalblue]People still use them oh

Right while i was waiting for my guest, buses dropped off passengers and they were using Baba Iyabo.

If Baba Iyabo can do 3 trips in a day, he will net what more than 80% of Bolt drivers have been labouring since 6am.

It's good that Bolt is allowing 1998 models. Those kind of cars are what is commensurate with their fares, tbh[/color]

pope191:
When view like this pop, it somewhat left me indifferent. I may not understand why insurance sky rocket from 5k to 15k, but I feel the rest are understandable if we put inflation into consideration. Take a look at 3 years ago, almost everything is double the price. From bread to pure water, I remember when Coro used to be 1.8/ 2m for toks. Today! Hmmm...

We complain about ehailing, but always forget demand and supply are the two forces that determines the outcome of the trade. Can we really put an estimation to the total number of cars we have on ehailing today? I remember very well, some time ago, Berger to Surulere used to be 1800/2000. Berger to Ikeja, 700/1000. Island 2800/3200. These prices are without surge and surge doesn't seem like part of business. Any driver that makes above 10k, is seen like a lucky champ. The best an average driver can make is between 15/18k those days. But today, anything less then 20k is not really a good day, drivers can go as far as doing 30k in a day... so is it not obvious things are not like the way it used to be.

Now, let's even put the users into consideration. If someone lives at Berger for instance and work on the Island. She took a ride of 4k to work in the morning and 4k back after work. That's 8k and we'll all agree 4k is not even obtainable from island to berger during peak these days. So let's say she spend a total of 10k per day. That's 240k for 24 days. If such person takes 400k home, what is left of her salary? How many people working on the island that do truly take 400k monthly? They still have rent to face. Truth be told, transportation takes the better part of an average Lagosian's salary.

Life is never easy, ehailing wasnt design to make anyone super rich, infact! Nothing on the ordinary scale of life that was design to make anyone super rich. We just have to think outside the box. Ehailing do has it threshold and there's nothing anyone can do about it, else we want riders to be paying x2 of what is obtainable now.

Another easy way out is putting multiple cars like 6, that way you can be getting passive 700k monthly. ask people that has tried it before delving sha

[color=royalblue]I understand your point, but the truth is that these fares are ridiculously cheap.

My friend's mum came from the SS to Lagos, and i was to take her to her hotel on Airport road. The GIG bus was to drop her at Anthony. I was waiting for her and i negotiated with those old cabs. They said 4k last. I checked Bolt; 1,700.

My aunt came back from Abuja and landed at MM2 around 9pm. Bolt was showing 3k plus to Festac. I was having difficulties ordering so i told her to use those Airport cabs. She paid 9k that night.

Compared to the service, the price is too too low.
[/color]

larride:
Yes. The margin the wholesalers put on those cements is almost 50%.

There’s this Dangote interview I watched where he lamented that the retailers are making more profits than he is making on each bags

[color=royalblue]I don't think this is true oh

The gain on one bag is about 600 naira, of which they will still pay for their transport.

I don't think it is up to 30% sef[/color]

YeyeGbami:
Presidential Inauguration.

Viking07 you go do give away

if 2 say i dey that way na dollars i go dey target
Grab it, snatch it and run with it

larride:
All those other small small mills, how many people know them? 😂

What’s percentage of the market share do they command compared to Honeywell?

Even as big as Honeywell is, did their noodles stand indomie?

[color=royalblue]There is Tummy Tummy
Chiki Chiki
Supreme
Golden Penny
These are the few I know

So how come these ones haven't folded up?

You don't have to know a business for it to make profit.

Dangote left because he wasn't making profit, not because they didn't know him[/color]

larride:
All these businesses you mentioned are business he ventured into, didn’t succeed and he exited.

How many flour mills company do we have in the country?

Even the noodles, Nigerians call all noodles indomie. That’s to tell you how huge Indomie was.

Dangote Spaghetti is still one of the most sold Spaghetti in the country till date but yet he couldn’t cut it in the noodles business.

It’s not all business that one can compete in, no matter how big the brand is.

[color=royalblue]We have more Flour mills than cement mills in the country

I can't remember when i saw Dangote Spaghetti last. Maybe you should stroll to the market and see the varieties we have here, made in Nigeria.

The point is, the business he is excelling in has less competition. The ones he exited had more competition[/color]

iamoyindamola:
I read about something like this too

[color=royalblue]I did my IT in Dangote Flour Mills and at that time, he had already sold it to Tiger Foods of South Africa

I don't know if the mill is existing now

But we still have other mills that are smaller than him, littered all over Apapa[/color]

chrisooblog:
But when you say open the gates do you mean allowing cement imports?

For instance do you know that one of the reasons Dangote cement is cheaper in other African countries is because they are competing with Chinese imports.

Dangote is not perfect but I still give him his due.

Lafarge has been operating in Nigeria for years but never thought to set up a local cement plant until Dangote came around.

Same bs MTN was trying to pull in the telecom industry before Glo came and helped reset their brain.

[color=royalblue]You just asked if it would be cheaper if it was open to imports naa

I give Dangote his accolades too. I am not criticising him. He has helped this country, but then, it is what it is.

Basically every business he triumphs has no competition. The ones he met competition, he left

He sold his flour mills
He had noodles. He sold it to Multipro
He had Bottled water (Mowa). He abandoned it.

Like i said, the cement sector is locked. When it starts to get a lot of investors, you may eventually find out it is cheaper [/color]

chrisooblog:
If you're talking about cement is it cheaper to import it? If so why hasn't anyone done it? Any if his cement is over priced why hasn't anyone produced their own affordable cement?

[color=royalblue]You'll have to throw it open to find out.

I think the cement sector is kinda locked. They are not giving room for more competitors.

Dangote, Lafarge and Bua just dey do as dem like.

When they opened the floor in the Flour milling, Dangote sold his Flour mills and ran away with is slippers on his hands.

If you open the gates of the cement industry completely, you may find out it is cheaper[/color]

iamoyindamola:
It's a good thing to have a refinery, the question we have is will it reduce our cost of production and reduce the price of petrol for the final consumers
That's the koko
Una too they hurry do copy and paste oga oo

[color=royalblue]It would

The decrease may be little, but it would.

August no far again, but i am sensing we may experience some form of scarcity before then; especially when there would be a transition from imported fuel to that of Dangote[/color]

chiste1:
You didn't mention your brand of car you use for the business.

[color=royalblue]Na bike oh [/color]

Snrman1:
why u talk so boss

[color=royalblue]Swearing in of BAT

All loyal, hypocritical and sycophantic party members would be trooping into Abuja either by air, land or sea

[/color]

larride:
You are right. You do know that you can get to the free trade zone through the Lekki - Epe expressway. They are building an highway Magbon Alade highway to the Lekki - Epe expressway. I think that’s why they are building the regional road also as an alternative to ease traffic on that route.

There’s also Eleko - Epe road been constructed. 6 lane road, the phase 1 has been completed and commissioned.

[color=royalblue]I really can't picture how it would look like.

What i heard before was that truck trying to access the refinery can only go through from Epe.
No tanker would be given that chance of using the island to access there.

Just like how trailers are banned from using 3MB[/color]

liveLongNprospa:
I think from that side down to the refinery everybody is on their own unless larride missed other projects

[color=royalblue]After VGC is Ajah, and after Abraham Adesanya, the road is not that wide.I think it is just 2 lanes

So i don't understand how they will be constructing a lane for trailers, 20km from the refinery[/color]

larride:
Lekki Regional Road.

I think it starts from Freedom way and terminate at VGC.

[color=royalblue]This one cannot concern refinery naa.

The refinery is another 20km from VGC.

Abi na me no understand wetin dey happen[/color]

larride:
That road should be completed already and commissioned. Started since 2021 or so. I’ll check to see if I can get an update on the road.

[color=royalblue]Which road are you people talking about?

Starts from where?[/color]

liveLongNprospa:
Okay thank you🕺.

Next na to pray against the apapa situation along that lekki corridor.

I nor dey track the road construction situation.

Larride you get idea wetin currently dey available to help with the incoming traffic from tankers?

[color=royalblue]I don't think trucks have any business there.

We already have marketers with their depots

So the already existing structure would remain. Only NNPC would have business with Dangote refinery

My opinion sha[/color]

liveLongNprospa:
Okay then.
So this commission na for bubu to collect glory😁

[color=royalblue]Nope

It is completed. Refinery no be canteen wey go just function immediately.

Just a month from now, and it is up[/color]

liveLongNprospa:
Please oo.. This refinery that is being commissioned today?
Has it been completed yet or we are still some time away from completion?
And when does it start to function

[color=royalblue]It will start operations fully between July to September[/color]

PDPGuy:
Wow. I wonder what the marketers, who have made fortunes from importing petrol, would do from next year?
I guess they would have to hustle to be one of Dangote’s or NNPC’s marketers

[color=royalblue]To maintain the supply chain, the government will automatically adopt them as the marketers.

I think..[/color]

Amigoss:
This was an APC journalist and El-rufai inlaw explaining how "and 25% in FCT" is a must before election took place.

Ask her today now,her tune would have changed.

Kadiara Ahmed stated that the 25% in FCT is a must not knowing that a day like this will come 😂. Maybe she was thinking the that Peter Obi don't have the spread then. But see God 🤲🏼. @AbdulMahmud01 @EmirSirdam@diisa2002 @General_Oluchi @ziter001

Bashir seyi Bishop Oyedepo pic.twitter.com/loWM77WuVT

— ObiDemocrat (@Equity_ofs) May 21, 2023

Everything dey tribunal and supreme court hands, if they still want us to have a country or illegalities should take over

[color=royalblue] [/color]

Itsrm:
That one dey .

However, he will still get his own customers. The ocean is big for many fishes. Those who enter that 03-05 civic will enter pencil light

I personally think that the pencil light looks better than the civic

[color=royalblue]I have never run into that civic when i book a ride. The probability is low. If it is not a corolla, it ends up as a Camry or Matrix

Anyways, it will still have its customers.[/color]

[color=royalblue]Dem say Muslims dey hustle for more posts than Christians in this our new administration

How Tinubu wan take handle am?
[/color]

Itsrm:
Remember he won't make the same money giving out the bikes as he's making riding himself.

I do agree with you that the bike thing is definitely more profitable.

By the way, this new pencil light thing is really great. He no longer has to spend 3.6m getting a corolla. And if demand for pencil light goes up, people will still tend to avoid baby boy due to bad rep.

[color=royalblue]Who go enter that pencil light?

Inside this Lagos, wey those Lekki girls would either cancel when they see your car, or outrightly give you 1 star?

Even to charter local cabs, people avoid Pencil lights. [/color]

larride:
You do know there’s something called reference right?

I’m only pointing out your hypocrisy to you.

The sale of that house became public during the pandora paper issue. Infact it was said that Oyetola was the front used to buy the house through the company that was set up at the British Island Virgin before it was later known that Seyi Tinubu is the sole director of the company.

It’s the same way that Peter Obi opened a company in his daughter name Gabriella Investment in Nov 2010 4yrs after he became Gov and won re-election.

If you don’t see the crime in a sitting Governor opening a company in his daughter name while he was Governor in a tax heaven, you really shouldn’t be disturbing us about other Governors.

On Atiku indictment, though he was indicted for corruption by the US senate, he hasn’t been put on trail yet but his co-conspirator was put on trail, convicted and sentenced to jail.

[color=royalblue]Just substitute that Obi's name with any other governor (sitting or standing) and watch this thread get to 3000 pages.

Anybody who followed Pandora would know that the reason Obi's name came up was because he was a SITTING GOVERNOR when he created those shell companies.

It is not as if there are no businessmen there or footballers, Surgeons etc. But this man was a governor when he ran this racket.

There is no honesty or integrity in a serving government official pulling that.[/color]