Latest Price of Keke Napep in Nigeria 2020 | New and Fairly Used Tricycle Cost

When talking about street transport, tricycles are the number one means of street transportation in Nigeria right now. They came into limelight after the ban of motorcycles, majorly known as Okada. A Keke napep can deliver up to ₦100,000 monthly or even more with an investment Keke Napep and everyone wants to know the Price and Cost.

Are you contemplating whether or not you should start this business, here is a list of reasons why you should? Take a look at our table of content to see all information.

How much is a Keke Napep?

A new Keke Napep is sold from ₦450,000 to ₦800,000 while fairly used Keke Napep is sold at ₦200,000 to ₦300,000 on average. Model of tricycle, place of purchase, time of purchase and currency exchange rates are key factors that determine the Price of Keke Napep in Nigeria. The price list below is different for different brands. See the breakdown below

Is Keke Napep Business Profitable?

If you are wondering is this business is of any value in Nigeria, YES IT IS! Here are the answers and reasons why we think so.

1. The need for affordable transportation from the suburbs is huge, as a lot of commuters who live far away from the city centre can’t afford the cost of daily transport by taxi.
2. As motorbikes have been banned, thousands of Keke Napep would be needed in major cities to meet the demand of transporting passengers to and fro cities.
3. Keke Napep industry is supported by the Government. It actually has announced its plan to boost the use of Keke Napep by introducing solar-powered Keke Napep with the 2019 budget.

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Business Ideas with your Tricycle & how much the profit is

There are many ways you can earn money through these ideas with your Keke Napep and make a profit. Here are some of them.

1. The most common way, you can drive a tricycle yourself. An income of N4,000 can be made in a day and an average of N100,000 in a month.
2. If you don’t like driving, you can purchase a Keke and hire a trustworthy person to ride it for you while paying a particular sum to you every day.
3. You can also own a Tricycle transport company. You may purchase about ten (10) tricycles and employ trained and experienced persons to drive them. Drivers could be paid monthly.
4. If you cannot oversee the aforementioned business, you can begin a Tricycle hire purchase service where you purchase a number of tricycles and give to the Keke Napep riders associations or a particular Keke rider. They will keep on paying regularly until the initial sum invested and some interests have been paid. A profit of about N50,000 and N 150,000 can be gotten in three to six months depending on the initial agreements.
5. You can start a shuttle service with Keke Napep just as a car shuttle business.

If you cannot foot the bills of starting this business, there are banks, co-operatives and Non Governmental organizations who can willingly fund the purchase of your tricycles while you pay back a portion to cover your loans. With the profit you earn, you can pay up in 3 months. A Tricycle can last 3 years on average.

Best Tricycle Brands in Nigeria

• SUZUKI
• Piaggio
• Bajaj
• Daylong
• TVS
• Vespa

Prices of new Keke Napep in Nigeria

Price of fairly used or Old Keke Napep in Nigeria

Tricycles are durable and if they are properly used, they can be sold to another person. The disadvantage of buying a fairly used tricycle is that it can develop fault more easily than a brand new one. The variation in the prices depends on how long the tricycle has been on the road.

What you should consider when buying a Keke Maruwa

• Budget: Keke prices vary, so you may need to purchase the one that suits your pocket.
• Brand: When acquiring a tricycle, it is important to take note of the brand. Certain brands like Bajaj have a good reputation for producing quality tricycles. You may want to avoid brands that have not been tested.
• Fuel consumption Rate: Fuel is important in the day to day usage of the tricycle. Although tricycles generally economize their use of fuel, brands like Piaggio incorporate a technology that helps you save fuel more than other brands.
• Availability of spare parts: you may want to avoid brands that were just introduced into the market. Their spare parts may not be readily available.
• Durability: Nigerian roads are not in its best state, especially in rural areas. The condition of the road is not friendly to vehicles that ply on them, hence the need for tricycles that are long-lasting and tough.

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How to Get a Loan to Purchase a Keke Napep when you have Little Money.

According to Tunji Afuwape, to get money for the purchase of a commercial tricycle, you simply approach an existing microfinance bank in your locality. Some of them will request you deposit 20 to 25% of the total sum while the balance is spread over 20 to 30 weeks. They also have other conditions which you should find out before collecting the loan.

Microfinance banks giving out money for Keke purchase right now include:

(1) Accion Microfinance Bank 3, lyali Avenue VI, Lagos

(2) Citiserve Microfinance Bank, 360, Ikorodu Rd. Lagos.

(3) MIC MFB, 10 Allen Avenue, Lagos.

You can also contact NAPEP State office nearest to you, they have an office at every Federal Sec. Office in Nigeria. Lagos Office is at Old Federal Min of Works.

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Frequently Asked Questions (FAQs)

1. Can I get a Loan to Buy a Tricycle and Payback later?

ANSWER: Yes you can. I listed above a couple of Microfinance banks that can help you like Accion Microfinance Bank 3, lyali Avenue VI, Lagos, e.t.c. Check above

2. Where Can I buy Keke Napep in Lagos, Abuja or Enugu

ANSWER: You can go to 44, Cole Street, Ebute Metta, Lagos Mainland, Lagos, Nigeria. Also, I listed up to 20 locations where you can get a Keke Maruwa in Nigeria. Please scroll up on this post.

3. Is Keke Napep Banned in Abuja?

ANSWER: Yes, the use of Keke Napep has been banned on major roads and routes within the metropolis of Abuja

4. How much does Keke Napep deliver?

ANSWER: You can earn  ₦100,000 monthly or even more with driving a tricycle.