You probably rely on tricycles, popularly called Keke NAPEP or Keke, for transportation around busy cities in Nigeria. With fuel prices rising again, you may wonder how much tricycles cost nowadays. This guide has the latest pricing on new and used tricycles from brands like Bajaj, TVS, and more. You’ll also learn about factors that influence the price. Read on to make the most informed decision when purchasing a tricycle for your business or personal use in Nigeria.
Overview of Tricycles in Nigeria
There are two main types of tricycles popular in Nigeria: the manual tricycle and the motorized tricycle. The manual tricycle requires human power to pedal and move, while the motorized tricycle uses a small gasoline engine for propulsion. The motorized tricycles, commonly called “keke napep” are more popular and widely used for commercial transportation in Nigeria.
Factors That Influence Tricycle Prices in Nigeria
Here are some of the factors that influence the price of Tricycle in Nigeria:
Demand and Supply
The basic economic principle of demand and supply greatly determines tricycle prices in Nigeria. When demand is high and supply is low, prices go up. However, when supply exceeds demand, prices fall. The demand for tricycles has been on the rise in recent years due to increasing populations and the horrible state of roads. This has caused a shortage in supply, driving prices up.
Cost of Production
The cost of producing tricycles also impacts their final market prices. When the costs of parts, labor and other overheads rise, manufacturers transfer these additional costs to consumers in the form of higher prices. However, when production costs decline, it may lead to a drop in tricycle prices. The cost of steel and other raw materials used to make tricycle parts influence production expenses.
Government Policies
Government policies such as import duties, taxes, and subsidies affect tricycle prices in Nigeria. Higher import duties or taxes on tricycle parts lead to higher production costs and retail prices. On the other hand, subsidies or tax cuts make tricycles more affordable. The government sometimes adjusts these policies to either encourage local production or make transportation more accessible to citizens.
Inflation
Rising inflation in Nigeria reduces the purchasing power of money and leads to higher prices of goods and services, including tricycles. When the cost of living goes up due to inflation, tricycle sellers increase their prices to match increasing business costs and maintain profit margins. Buyers also have to pay more to acquire the same tricycles.
Seasons
Tricycle prices in Nigeria tend to fluctuate based on seasons. During the rainy season, especially in rural areas, tricycle prices go up slightly due to higher demand and poorer road conditions. The rainy season also disrupts supply chains, causing short-term price hikes. However, during the dry seasons, improved road access and higher supply volumes often lead to lower tricycle prices, especially for used models.
5 Popular Tricycle Brands You’ll Find in Nigeria
Bajaj
Bajaj is a very popular Indian tricycle brand in Nigeria. Their tricycles are relatively affordable, and are praised for being very durable and low-maintenance. The Bajaj Qute and RE 4-stroke are two of their most popular models in Nigeria.
TVS
TVS is another popular Indian tricycle brand in Nigeria. They are known for producing high-performance yet affordable tricycles equipped with powerful engines. Their King Deluxe and King Economy are two models commonly found in Nigeria, TVS tricycles are a great, durable option for commercial use.
Piaggio
Piaggio is an Italian company that produces the Vespa brand of tricycles, which are popular in Nigeria. Vespa tricycles start are praised for their stylish design, strong engine performance, and high quality. For tricycle operators and individuals looking for a more upscale tricycle option, Vespa is an excellent choice.
Daylong
Daylong is a Chinese tricycle company that produces very affordable tricycles for the Nigerian market. While not the highest quality, Daylong tricycles offer basic yet reliable transportation at a very budget-friendly price. For those on a tight budget looking for simple motorized transport, Daylong is a suitable, low-cost brand.
In summary, there are many reputable and affordable tricycle brands in Nigeria to choose from. Do some research on models, prices, and quality to find the best brand and tricycle for your needs. With proper maintenance, a good tricycle should provide you many years of reliable service.
Prices of Tricycle in Nigeria (2024)
The cost of tricycles in Nigeria varies depending on the make, model and additional features.
Prices Of Brand New Keke Napep In Nigeria
- TVS tricycle price range is between ₦1,280,000 to ₦3,650,000
- Bajaj tricycle price ranges is between ₦1,200,000 to ₦3,500,000
- Daylong tricycle price range is between ₦1,100,000 to ₦3,500,000
- Piaggio tricycle price range is between ₦1,000,000 to ₦3,200,000
Prices Of Fairly Used Keke Napep In Nigeria
- Bajaj Tricycle: From N450,000
- Piaggio Tricycle (Diesel Engine): From N400,000
- Daylong Tricycle: From N500,000
- TVS Tricycle: From N400,000
In summary, you can get a brand new tricycle in Nigeria for ₦1,300,000 up to ₦3,800,000 depending on the brand and specific model. Bajaj and TVS are highly recommended if you want an affordable tricycle that can last for many years. Whichever brand you choose, a new tricycle remains a solid investment for transporting passengers and goods in Nigeria.
How Much Can A Keke Napep Make Daily And Monthly In Nigeria?
If you have a penchant for making money, buying your own tricycle could be the solution. A Keke Napep can transport items in major cities and remit up to ₦10,000 per day, resulting in monthly earnings ranging from ₦200,000 to ₦400,000 on average when used regularly. With such potential revenues, it would only take 3-4 months for the funds used in buying this tricycle to be recouped, assuming it was purchased for ₦1,300,000.
Conclusion
In conclusion, Tricycles remain an important means of transportation in Nigeria, especially for short distances and in areas with poor road networks. When buying a tricycle, consider your needs, budget and additional costs to operate legally and efficiently. With good maintenance, a tricycle can serve you well for many years.