Hello my Fellow Nairalander, Compliment of the season,

A friend who has been in England just return home (To Abuja - Nigeria) with "lets say almost nothing" but he has about N1.1 million which he hope to start life with. He's already gotten an apartment in Abuja (where he which to live) for about 500k and he hoped to start a business with 500k and sustain himself with the other 100k. Part of the 100k has almost gone down the drain through business and investment research. Now, he has decided he want to go to Coutonu (Republic Of Benin) to buy a car and use for private/executive taxi business (Which he's going to be driving himself). He does have concerns about the risk associated with buying and bringing cars from Coutonu, considering that fact that its his last cash (and not in his nature to bribe/settle) and he has no one to fall back to. My question is;

1). What do you think about Cars and Investment?

2). Is the business move a smart decision and advisable?

My people, please i need a genuine advice and comment that will help this friend and Nigerian brother who has just returned home. This guy has no qualification; in-case you want to suggest he should look for a job and has no business training.

Thank you very much and i look forward to your response.

These are a few considerations that come to mind:

1. He has 500k left what kind of car does he expect to purchase from cotonou at that price ? Customs duty has to be paid also have enough left for registration and hackney paperwork?

2. As much as bootstrapping a business is possible you will still need some form of contingency funds no matter how small for emergencies. A small hiccup in cashflow can wipe out a new business

3.Transportation is a high risk business as there a lot of variables that cant be factored and provided for, so the question is are you willing to take the bet with your last set of funds?


Sorry Nigeria takes getting used to, adaptability and persistent determination is the key here. Wishing your friend all the best

really complex, best tin to do before returning home is having a plan. 500k for a car to be used for transport is kinda little, if he's not used to the route i will not advice he travels it, bringin in cars via that route is smuggling.
your frnd getting a place for 500k was a mistake, big time mistake. even if he gets the a car for 500k he needs do some registration. he should look into buying and selling so as to get his capital base up. 500k is SMALL money in Nigeria of today. All the BEST

Get him to buy an Okada for self mobility, move down to where he can pay a cheaper rent, lease a parcel of land and practice Agriculture - if he gets one or two mentors to bring him by; he should be abel to pick that (farming) up pretty quick. Get him also to prayerfully commit his plans into God's hands. All the best!

dont be discouraged by other posters. 500k is more than enuf for him to buy a good golf 2 car. this car is very durable and has second hand value in case he wants to sell it after some months. it is d favourite for taxi drivers here in kano. i dont suggest he goes to cotonou to get a car since he is new to the route. i bet u can get a good golf 2 car brought from cotonou here in kano between 430k to 480k. contact me tru aminu_aa@hotmail.com for more

aminu150:

dont be discouraged by other posters. 500k is more than enuf for him to buy a good golf 2 car. this car is very durable and has second hand value in case he wants to sell it after some months. it is d favourite for taxi drivers here in kano. i dont suggest he goes to cotonou to get a car since he is new to the route. i bet u can get a good golf 2 car brought from cotonou here in kano between 430k to 480k. contact me tru aminu_aa@hotmail.com for more

2 golf car or golf BIKE? pls lets be real here. except of course u'r talking abt a "push to start" golf

the LINK:

2 golf car or golf BIKE? pls lets be real here. except of course u'r talking abt a "push to start" golf

i mean a clean tokunbo car brought from cotonou. do u think naija is america

aminu150:

dont be discouraged by other posters. 500k is more than enuf for him to buy a good golf 2 car. this car is very durable and has second hand value in case he wants to sell it after some months. it is d favourite for taxi drivers here in kano. i dont suggest he goes to cotonou to get a car since he is new to the route. i bet u can get a good golf 2 car brought from cotonou here in kano between 430k to 480k. contact me tru aminu_aa@hotmail.com for more

my mistake, i tot u ment 2 units of golf cars, now i get the jist.u also have to consider the cost of doing the car registration and NURTW registration too. a frnd of mine in Abuja recently said the government is trying to clear individual cabs off the road and introduce the system now working in the uk and US, where the system is operated by transport companies. since he had just 500k as at the time of his post, its safe to assume he has less dan 200k now. he came into Nigeria very interested in living up to the expectation of plp, a house of 500k was WAY on called for. i also hear Honda cars are cheap in Kano