In most communities, a large fraction of the working population travels daily in one form of mechanized vehicles or the other to and from work not to mention journeys made for recreation, shopping and other social activities goods are also shipped over a long distance to provide those materials, which are part of the expected standard of living. Transportation in an integral part of the functioning of any society and advances in transportation have made possible changes in the
way we live and the way societies are organized. Transportation exhibits a close relationship to the style of living, the range and location of productive and leisure activities and the goods and services, which will be available for consumption.
Since the collapse of the rail system in Nigeria, inter-city transport has assumed a wider dimension and has become the most utilized way of intercity movement of people, goods and services.
Nigeria has one the fastest growing economies in the African continents. The country is located 50 degrees north of the equator covering an area of about 923,968 square kilometers. It has boundaries with the following countries/locations: North – Republic of Niger, South – Atlantic Ocean, East – Republic of Cameroon and West – Republic of Benin.
The transport sector is also receiving a major boost from the various tiers of government. The country has network of roads linking the thirty-six states to each other though the state of the roads is at various stages of disrepair. Also over twenty international and fifteen domestic airlines do business in Nigeria.
Transport business is still one of the most consistent businesses in Nigeria anytime. The target market is thousands of travelers who travel between Lagos and the eastern part of the country.
The market for inter-city transport services is national .With a population of over one hundred and sixty five million (165,000,000) people and an estimated national population growth rate of 5.7% per annum , average economic growth rate of 3.5% per annum in the past five (5) years ,Nigeria is a large ,expanding and sustainable market for inter-city transport.
The investor can target middle class travelers who cannot afford the cost of air travel or has phobia for air travel, but appreciates a decent comfortable road Travel.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on inter-city transport business in Nigeria by clicking on the link below.
Report Title: INTER-STATE TRANSPORT BUSINESS IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/INTERBUS/FMR/0056334
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