How to make money by investing in the oil sector in Nigeria

How to make money by investing in the oil sector in Nigeria

How to make money by investing in the oil sector in Nigeria

How to make money by investing in the oil sector in Nigeria

One of the biggest producers of crude oil worldwide is Nigeria. Currently, the nation produces 2.5 million barrels of crude oil on average per day. As a result, she ranks as the tenth-largest crude oil producer in the world and the sixth-largest OPEC exporter. The government plans to expand reserves from their existing level of 35 billion barrels to 40 billion barrels by the year 2010 while production capacity now stands at roughly 3 million barrels per day.

Nigeria is home to the seventh-largest proven natural gas reserves in the world, with an estimated 185 TCF of reserves. Nigeria’s untapped gas reserves are reportedly between 300 and 600 TCF. As a result, Nigeria has been referred to as an oil and gas province. The gas quality is excellent; it is notably liquid-rich and sulfur-light. Nigeria now flares a sizable percentage of its 4 BCF/D production. According to estimates, there is enough natural gas flared to power the entirety of Sub-Saharan Africa. The Nigerian government established 2008 as the deadline for the total abolition of gas flaring. In addition, it has started a number of gas utilization initiatives to lessen gas flaring and monetize the nation’s gas resources.

According to a BBC investigation, the majority of Nigerians continue to live in abject poverty despite the country being one of the largest oil producers in the world. The current situation is that reputable investors are earning millions of dollars every day, and if you take the initiative and invest in Nigeria’s oil and gas sector right away, you might soon join them. However, a closer look at the industry reveals that there is room for nearly everyone in the business; this means that regardless of who you are and how much money you have, you can still invest in the sector and make your own big bucks. The majority of operations take place in the downstream sector, where most of us can afford to invest. The Upstream industry is mostly for large investors and multinational corporations with the resources and knowledge.


Knowing where to invest is necessary before talking about investing; the choice you make next depends on your capabilities. You will determine whether you can afford to construct a refinery or a kerosene tank by the roadside after reading this text. You’ll still be able to make good money no matter what. Let’s examine how you might profit from Nigeria’s oil and gas industry.


  1. Oil Refinery

This is the most challenging and vital project for the downstream industry. One would take at least two years to create and might cost anything from $5 billion to $500 billion. As you can see, this is not an investment opportunity for those with weak hearts. Refineries require significant financial investment, rigorous physical and environmental planning, and cutting-edge technology. This is one investment you should go for if you can afford it or can find investors who are willing to pool money together; it is worthwhile. You will purchase crude oil in Nigeria, refine it, and sell it locally to millions of retailers and distributors. You will also export your refined product to other African nations and even Europe, where you will earn millions of euros. You will definitely receive your money’s worth in return, and in billions.

  1. Fuel Importation

The big men are swarming around each other here and making incalculable billions of corrupt and legal money. You too may make money legally by investing in importing. Root is now being imported from the Niger Republic. Having a tank farm or collection of filling stations where the imported product can be stored is one of the key prerequisites for gasoline importation.

Fuel importation is a lucrative industry that also necessitates substantial infrastructure. You would need to have a fuel depot and a functioning jetty among other things in order to be able to obtain the importation license and permit. Those who are involved profit from both the selling of goods and government subsidies. You can start off little and still make a lot of money.

  1. Oil Servicing Business

Installations for oil and gas need ongoing maintenance and servicing. Here is when oil servicing businesses enter the picture. It is a crucial component of the upstream and downstream parts of the oil and gas industry. The oil and gas industry in Nigeria is booming. If you act now and invest, you and your group can take a piece of it. You’ll need to assemble the necessary tools, employees, and technology to invest in the oil servicing industry.

  1. Petrol Filling Station

Millions of Nigerian Naira are being made by thousands of investors each year. It is a very lucrative industry for individuals with the necessary financial funds. I once knew a man who relied on selling tea locally to make ends meet. Over time, he saved money and constructed his first modest gas station in the neighborhood, and now he owns over ten stations spread out over several states.

  1. Petroleum Haulage

This is the delivery of a service that requires moving petroleum products from one place to another. You only need one tanker to start this lucrative business, and one tanker is all you need. You can grow from a single tanker to a fleet of tanks and a sizable haulage firm. Transporting goods from Lagos to Kaduna costs tanker owners roughly N150,000. According to insider information, it is profitable to transport petroleum products from locations like the Port Harcourt refinery to other regions of the nation.

Depending on where the product needs to go and the tanker’s capacity, haulage services cost anywhere between N20,000 and N200,000 per trip.

How to make money by investing in the oil sector in Nigeria


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  1. Diesel supply

Now that so many men are entering the diesel industry, it would be wise for you to think about participating. Recent research on the diesel supply industry was conducted, and according to the reliable and credible conclusions of that study, the diesel industry is a mega-million-naira enterprise.

  1. Kerosene Business

The fact that kerosene can be purchased from NNPC for such a low price is one thing that most people are unaware of. You can get the product from NNPC for N50 per liter and sell it for N120 per liter. Owners of gas stations and other retailers operate in this way. Gaining N50 times 10,000 equals N500,000 if you lift 10,000 gallons and earn at least N50 per litre.

  1. Lubrication Oil Retail Shop

It is impossible to overstate the importance of lubricating oils in residences, businesses, factories, and industries. Sales of engine oil, brake fluid, hydraulic oil, and other products are another practical way to profit from the oil and gas industry due to rising demand and population. In many locations, including vehicles, lubricating oils are utilized both for routine maintenance and daily operation. Lubricating oil is also used in generators and other machinery. This industry is one that you may easily enter in the hopes of making a profit because of the strong demand.


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