Korope minibus set the highest price of ₦3 million for Tokunbo and ₦1.8 million for Nigerian used cars

Korope minibuses are 8-seater buses that are smaller compared to the much larger buses that are commonly seen on Lagos roads and other cities in Nigeria. They are suitable for use as public transportation within a state and other nearby destinations outside a state. Due to their compact size, minibuses can navigate tight spaces and are quick in getting people to their destinations.

Owning a Korope minibus was very affordable some years back, but it’s not as easy as it used to be. Nowadays, Korope minibuses are sold at the same price as a 2005 Toyota Corolla. If you are an entrepreneur in Nigeria looking for other sources of income, you might want to consider leasing out commercial vehicles for public transportation.

When these buses are shipped from Asia, they are cut into small pieces to fit into a container. Once they arrive in Nigeria, they are put back together and repainted. Upon closer inspection, you’ll notice some dissections and welding in the vehicles.

This is not a good thing for these vehicles because it reduces their strength, making them not as sturdy as they were originally designed to be, as some dealers decided to maximize profit. Interestingly, these buses arrive in Nigeria with 5 seats, but some Nigerian entrepreneurs remove the two-seater and replace it with a three-seater bench, turning the bus into a seven-passenger carrier.

Here’s how you can make money with the Korope minibuses

A full tank of this bus is 37 litres and costs approximately N22,830. The fuel consumption rate is 15 kilometres per litre, which means you can drive 555 kilometres with a full tank. The average driver uses about 4 kilometres to commute, with a rate of 300 per passenger, which means you earn N2,100 per complete trip. With a full tank, you can make 60 trips, which is about N126,000. A driver takes about 20 trips per day and consumes a full tank in 3 days.

Korope minibuses New Price

Ever since the introduction of the Korope minibus in Lagos as a junior sister to the Danfo bus, the price for getting one has gone up drastically. In 2023, a very clean fairly used Korope, fresh from Asia, cost ₦2 million, while a used one in Nigeria cost ₦900,000. However, in 2024, the price for a direct Tokunbo Korope mini bus rose to ₦3 million, while a locally used one is priced at ₦1.4 million.

Why You Should Buy the ‘Korope’, especially in Lagos

The first misconception anyone has of these buses, at first sight, is if they can fit in. Surprisingly, these buses come equipped with enough head and legroom, making them convenient for the seven passengers. However, the Korope is recommended for short journeys despite its cabin space, because of the weakness of the vehicle’s engines, and their inability to withstand long-distance travels.

This is exactly why we see the number of these buses growing in proportion (for intra-state transport) in many cities in Nigeria. Regardless of its weakness, the ‘Korope’ buses are believed to be stronger than Keke tricycles, as such, many entrepreneurs believe investing in these buses comes with better returns than what’s obtainable from Keke.