Let's run the numbers for a Lagos commuter travelling 30km daily (15km each way):
Daily Okada Cost
- Average fare: ₦1,000–₦1,500 per trip
- Two trips daily: ₦2,000–₦3,000
- Monthly: ₦60,000–₦90,000
- Annually: ₦720,000–₦1,080,000
Owning a 14" Foldable Ebike (400W)
- Purchase price: ₦750,000
- Daily charging cost: ~₦150 (at ₦250/kWh)
- Monthly charging: ~₦4,500
- Annual charging + basic maintenance: ~₦60,000–₦80,000
Break-Even Point
At ₦750,000 purchase price and ₦80,000/year running costs vs ₦900,000/year in okada fares:
- Year 1 total cost: ₦830,000 (e-bike) vs ₦900,000 (okada)
- You break even within the first 12 months
- Year 2 onwards you save ₦820,000+ every year
An e-bike pays for itself in under a year and keeps paying you back for 5+ years.