How to start a tipper business in Nigeria

Housing is now a marketable commodity in our contemporary world, most especially in Nigeria where new houses are been constructed virtually on a daily basis. 

Trucks or tippers are used as haulage services such as trucks used to carry materials for building such as sands, stones etc. and because of the rate at which companies or individuals are building houses both for Individual and company use, the tipper business is proving more and more lucrative. 

An individual can decide to start a tipper business in Nigeria, all the individual needs to do is to ask questions and make thorough research before venturing into the business which this article will help to do justice as much as possible. 

How much does one need to start up a topper business?

An individual who wants to start this business has to budget between 3 to 5 million naira, this is outside other rough expenditures. The amount covers the cost of acquiring a truck and other expenses like registration with the National union of Road Transport Workers (NURTW).

What is the cost of 911 tipper and other trucks in Nigeria?

The truck can be categorized into 2 which includes:

  1. 6 tyres tipper (30 tonnes). 
  2. 10 tyres tipper (60 tonnes). 

The price for Belgium graded 911 or 1113 Mercedes Benz 6 tyres tipper are N3.5 million and N4.5 million respectively. While the price for the Belgium iveco inter turbo 10 tyre truck is between N6.5 million to N7.5 million. 

Options available for investment in Truck Business 

After buying the truck there are various ways an individual can utilize the truck I. making income and they include:

  1. An individual after buying the truck can decide to drive it himself or hire someone to drive it for him, using the truck to convey goods from one location to another. Money is made daily in this system with a daily estimation of N7000-N10000 made daily and can make N300000-N350000 net profit monthly.
  2. An individual after buying the truck can register his truck with a reputable company and sign an agreement with the company, this is a kind of hire purchase method. The company will OW take over responsibility of the truck for the agreed period of time, and the company will redeem the agreed stipend to the individual. 

The rate at which the stipend is been remitted is according to the agreement between the individual and the company. Note: In this method the company takes full responsibility of the truck including Maintanace, repairs and fueling. 

The tipper business is quite lucrative and is hardly affected by economic situations at every particularly period of time. 

One needs to be very careful when employing a driver to handle his truck, an individual needs to make detailed research before venturing into the business if the individual is interested in making maximum profit.

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