In Nigeria, the use of motorcycles (popularly known as Okada) and tricycles (popularly known as Keke Maruwa or Keke NAPEP or just Keke for short) are common for short-distance travel. They are widely seen on Nigerian roads, especially in urban areas. These bikes and Keke are imported from Asia and play a crucial role in getting people to their destinations quickly. Despite safety concerns, they remain an essential part of Nigeria’s transportation system due to their efficiency and ability to navigate through traffic. The Okada and Keke are not popular for their speed unlike the taxis and buses but they are very common means of transportation based on factors like traffic, cost (cheaper than cars and buses) and cheaper cost of maintenance.
Which is more lucrative? An Okada or a Keke Maruwa Business?
Both Okada and Keke are very lucrative businesses in Nigeria, both businesses have significantly higher patronage among Nigerians due to their ability to maneuver through traffic. This quality makes commercial bikes the first choice of many individuals in the urban area, especially in Lagos which is the most populated state in Nigeria.
Presently purchasing a brand-new Okada costs around NGN700,000 to NGN 1,000,000 if the buyer is ready to pay for the bike on the spot but if the buyer is planning to pay for the bike on an installment plan, then he might be charged NGN1,200,000 to 1,400,000 depending on so many factors which may include the duration of the payment and the initial deposit made by the prospective buyer. In most cities in Nigeria, Okada is allowed to take just a single passenger at a time and may charge from NGN100 and above depending on the distance. Most Okada have a tank that is capable of holding at least 6 litres, of petrol and runs for about 200 to 350 miles before a refill is necessary. A litre of fuel costs NGN600 and generally, the Okada riders might need to fill their tank about 3 to 4 times a day spending around NGN 10.800 to NGN 14,400. On average, a bike man makes an average revenue of NGN 25,000 to NGN 40,000 daily depending on the location. On average Okada riders make well above NGN 100,000 every month excluding fueling and maintenance.
Commercial tricycles in Nigeria presently cost around NGN950,000 to NGN1.2 million if it is brand new. A fairly used tricycle in a perfect condition caused between NGN650,000 to NGN700,000. To pay for a new tricycle on an installment plan the buyer might be charged for a price ranging from NGN 1.5 to NGN 1.7 million which is to be paid within a year or two depending on the agreement between the buyer and the seller. Keke driving can be very lucrative, a regular driver of Keke and between NGN30,000 to NGN50,000 per day depending on the location. Keke can carry four passengers at a time and sometimes five passengers with three passengers at the back and two at both sides. On average Keke riders make NGN 160,000 to 200,000 monthly excluding fuel and maintenance. The only set about tricycles is that the maintenance is expensive and some little technicians can handle the repair perfectly.
Both Keke and Okada are profitable depending on the area the person is operating and the choice of the person who is going into the business.
Source: https://hubforjobs.com/which-is-more-lucrative-an-okada-or-a-keke-maruwa-business