Boat Transport & Water Taxi Service

Run a passenger boat service on Lagos waterways (e.g. Ikorodu–CMS, Marina–Falomo) or riverine routes elsewhere, moving commuters faster than road traffic.

Monthly Potential

₦20k–₦80k

Difficulty

Advanced

Capital Needed

₦3,500,000

Income Period

Per Day

🧠 Skills You'll Need

Boat Operation Safety Certification Route Knowledge

📍 Works Best In

Lagos Port Harcourt Nationwide

🚀 How to Get Started

1

Acquire a registered speedboat and get certified by NIWA (National Inland Waterways Authority)
2

Fit life jackets for every passenger — this is legally required and builds trust
3

Pick a high-demand route with heavy road traffic as the alternative
4

Set fixed per-trip fares and post a visible timetable at the jetty
5

Hire a second certified boatman once demand outgrows one boat's capacity

🎓 Sign Up Free to Get Boat Transport & Water Taxi Service Course

💰 Ways to Fund This

National MSME Awards Grant (FG "Renewed Hope for MSMEs")

₦100,000–₦5,000,000

Grant

Registered or registering Nigerian MSME (CAC registration usually required or fast-tracked). Application windows open periodically, not year-round.

📊 Non-repayable grant — no interest, no repayment.

🌐 Apply

NIRSAL Microfinance Bank — AGSMEIS (Agri-Business/SME Investment Scheme)

₦500,000–₦10,000,000

Microloan

Nigerian SME or agribusiness owner; must complete a NIRSAL-approved Entrepreneurship Development Institute (EDI) training and get a completion certificate before disbursement.

📊 9% per annum interest (non-interest/Sharia-compliant option also available) — well below commercial or fintech rates. Up to 18-month moratorium before repayment starts.

🌐 Apply

NIRSAL Microfinance Bank — Targeted Credit Facility (TCF)

₦50,000–₦25,000,000

Microloan

Nigerian household, micro-enterprise, or small business; originally COVID-era, has continued as a general SME/household facility — confirm current status before applying.

📊 5% per annum interest — among the cheapest business credit available in Nigeria.

🌐 Apply

Bank of Industry (BOI) — MSME & Sector-Specific Loans

₦250,000–₦10,000,000

Government Fund

Registered Nigerian business (CAC registration typically required); requirements vary by specific BOI scheme (manufacturing, women, youth, etc.).

📊 Government-subsidized rates, typically well below commercial bank rates — confirm current scheme terms.

🌐 Apply

⚠️ Informational only — not financial advice. Confirm current terms directly with each provider before applying, and borrow only what you can repay.