Mass Transit Scheme
The Road Transport Employers Association of Nigeria (RTEAN) is a trade union by virtue of the Trade
Union Act (CAP 14) 3RD Schedule, Part C No. 9. The Association, having over 16 million members
nationwide has recently flagged off over one thousand (1000) vehicles in pursuance of the National
Mass Transit Scheme. It calls for private individuals, companies and international organisations who
wish to invest in the scheme to tender applications in the format prescribed below.
METHODS OF INVESTMENT
- Vehicle Leasing Scheme (VLS): under this scheme, applicants may lease or purchase vehicles from the Association.
- Financial Investment Scheme (FIS): under this scheme, applicants may invest financially in the association’s
projects through the association’s investment company. Some of these projects include the construction of
ultra-modern motor parks across the nation and establishment of drivers academy.
- Vehicle Purchasing Scheme (VPS): under this scheme, applicants may sell vehicles to the association as it seeks to
achieve its goals under the National Mass Transit Scheme.
- Memorandum and Articles of Association
- Proof of registration with Corporate Affairs Commission
- Proof of tax payment/ tax certificate
- Company profile
- Brochure of previously executed projects
- Curriculum Vitae of key personnel/ board of directors/ technical staff
- Reference from a reputable bank as evidence of financial capability
- Financial report for the last 3 years
- Certificate of compliance with the National Pension Commission
- International passport/ national identity card/ drivers’ license
- Proof of ownership of vehicles where applicable
- 2 guarantor agreements
*other requirements may exist based on the desired investment scheme.