• Saturday, May 25, 2024
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BusinessDay

How to establish petrol filling station

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Nigeria is the largest market in the black world with over 140 million people and with daily fuel consumption of over 40 million litres. Petrol filling station is one of such projects that give the investor quick return in terms high demand and turnover.

Nigeria is one of the largest producers of oil in the world. Despite the fact that our refineries are not working to full capacity, the present policy supports fuel importation. In this regard, constant supply of product is guaranteed.

The project is feasible with return on investment of over 100 percent per annum and pay back period of one year. Petrol is one of the essential items and its non availability can cause serious damage to the economy. It is one of the most important energy sources in the country. In this regard, demand is guaranteed.

Technical information

The following steps have been identified in the course of establishing of the project:

Procurement of good site (accessible and strategically located).

Feasibility study/business plan preparation.

•Station design and approval with planning authority.

•Application to the Department of Petroleum Resources for approval of the site and also licence to lift and fill petroleum products. The application will be submitted with such reports as police report, fire report and environmental impact analysis report.

Site construction and procurement of equipment such as pumps and storage tanks. Products such as petrol (PMS), diesel (AGO) and kerosene (DPKO) will be sold at the station.

Prospective investors can be assisted in the establishment of this project.

This is no doubt a viable business opportunity for serious minded and forward-looking investors. 

 

OLUMAKINDE ONI