Business
Vulcanising Business Booms In Rivers
Some vulcanisers in Rivers State say repair of all kinds of tyres was booming in the state. They disclosed that they make between N25,000 and N30,000 per week.
The vulcanisers said monies come from repair of tubeless tyres, tubes, rims changing of old tyres to new ones and gauging of deflated tyres.
Secretary of the Vulcanisers’ Association of Nigeria, Rivers State, Mr. Sopirinye Halliday at Rumuola, Port Harcourt, said that the work was lucrative.
Halliday explained that vulcanisers earn moe money in patching tyres of articulated vehicles than those of smaller vehicles.
He maintained that to patch a Mercedes Benz 608 mini-lorry or buses tyres costs N600 per hole, while those of trailers and tankers cost N1,500 per patch.
The artisan told The Tide that those of cars, tricycles and mini-buses whether tubeless or tubes costs N500 per patch, while gauging and pumping of types cost N100 per tyre.
“In this vulcanizing business, I have been able to buy a plot of land and I am married with four children. I have been in this job for the past 25 years and make about N60,000 weekly, especially on the days I vulcanize big tyres,” he said.
He said he used to make about N10,000 to N15,000 a week because he had no equipment for big tyres.
Halliday advised upcoming vulcanisers that the secret of the job was patience, good site and human relations.
Also lending credence, a vulcaniser at slaughter axis of Port Harcourt, Mr. Chinedu Amuramu said that he could make N20,000 on a weekly basis because he worked more on tricycles’ tyres and that of tankers, saying that his workshop was within the tricyle riders’ park.
According to him, patching a tricycle tyre goes for N500 or N600 and for mini-bus tyres and every other vehicle is between N1,000 and N1,200.
However Mr. Emmanuel Anietie, at trailer Park, Onne, said that the business was not a fast growing business especially during rainy season. Anietie pointed out that with good character, customers could call them from anywhere within the town to come to their aid whenever they had problems with their tyres.
As he puts it, “I leave my workshop at least twice a week on distress call from my customers and I charge N1,500 for such bail-out calls. Though, it was not easy initially because of the hazardous nature of the job, as at then I could only make N3,000 to N5,000 a day, “ he said.
Another vulcaniser at Lagos Bus Stop, Chris Amadi said that the only challenge facing the business was multiple taxes especially from the Rivers State Waste Management Agency (RIWAMA). Amadi appealed to the agency to reduce the levy, adding that they feed their families from the job.
As he puts it, “we do not have shops and for that, RIWAMA is not supposed to collect such amount of between N1,000 and N1500 from us, they should allow us to pay less than that annually instead of the stipulated sum of N1,500, he said.
Amadi further said that he made between N15,000 to N20,000 on weekly basis as against his earning of N8,000 to N12,000 last year.
He, however, attributed the boom to the rehabilitation of the bad roads in his area of jurisdiction which made motorists to ply through his workshop.
Bethel Toby
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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