A recent analysis of ABC Transports’ financial statements, a major player in Nigeria’s luxury bus (aka Coach) industry, reveals a grim reality that has been haunting operators in the country.
ABC Transport, known for being a pioneer in the transportation by coach, or luxury bus, sector in Nigeria, has suffered a substantial decline in revenues, plummeting by over 30% in the past four years.
The company’s coach division has been consistently reporting losses since 2015, and its contribution to overall revenue has dwindled from 13% in 2019 to a meagre 8% in 2022.