Requirements And Cost Of Starting A Petrol Filling Station In Nigeria

Petrol filling station in Nigeria is a high investment business opportunity, It is very profitable and lucrative here in Nigeria. Research has shown that there are more than 20,000 filling stations in Nigeria, and yet it still needs more. The oil and gas sector in Nigeria is the most competitive industry which is growing on a daily basis.

To be precise, Nigeria is among the oil producing nation in the world and absolutely the biggest oil consumers in the worlds. Homes, offices, hotels, hospitals, factories, industries, schools, churches, etc all of them needs petrol and diesel. That is why this business is super profitable with high investment and with also high Return On Investment (ROI).

7 Requirements Needed In Starting A Petrol Filling Station In Nigeria

(1) Business Plan: You will need to carry out a research about this business structure, how it works, it marketing strategies, use your knowlede you got from your research and map out a business plan.

(2) Location & Land: Ensure that the location will be in a busy area where vehicles, motors and passengers passby. This makes it easier to get customers and consumers. And make sure your land will have much space for constructions and motor park areas.

(3) Construction: Contact an engineer that will handle the construction project. The construction will consist of a bungalow or duplex, canopy over the pumps, perimeter fence, hardcore flooring, the pumps stand etc.

(4) Biy The Equipments Needed: The next step is to purchase petrol station equipments such as: standby Generator, Fuel dispensers and Pumps, Automated Tank Gauging, Submarsible Turhoe pumps, Forecourt control, Leasing, Spareparts etc.

(5) Register Your Business: Your business needs to be licensed. Business registration is very important for any serious investment to avoid harrassment and embarrassment in future.

(6) Employ Staff: Staff secretary, security, attendants, cashier, supervisor, manager etc should be employed.

(7) Marketing: You can market your filling station by creating awareness through free give-away of petrols, And Online & Offline advertisement should be considered.

Cost Of Starting A Petrol Filling Station In Nigeria

Here will give details on the capital needed to setup a petrol station in Nigeria:

1. Land Cost: Land cost for petrol station should range from N2.5 million to N11 million.

2. Construction: Contract engineers, laborers, carpenters, house builders are to be listed under this category. The cost should be N35 million.

3. Machines And Equipments: Equipments and other necessary tools should cost about = N9 million.

4. Business Registration: Business registration in Nigeria ranges from N15,000 to N150,000 depending on the size of the business.

5. Transportation & Logistics Cost: This should cost N1 million.

SUMMARY

  • The requirements and cost of starting a petrol business in Nigeria is N47,150,000, Approximately N50 million. Please note that the cost might be decrease or increase depending on the level you want to run it. Petrol filling station business in Nigeria is very profitable to venture.

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