Nigeria being an oil producing nation however still relies heavily on imported petroleum products for the servicing of the economy. Such petroleum products as Diesel (AGO) are products utilized by almost everybody on daily basis at and daily usage is still on the increase. Due to epileptic power supply, more Nigerians are carving for the need for constant power supply to aid uninterrupted production of goods and services and also for domestic use more Nigerians are increasing the demand for gasoil in order to enjoy the usage of their generating sets and industrial plants.
Gasoil importation business involves the buying/sourcing of refined petroleum products from credible and genuine suppliers of refined petroleum products from named load ports which could be vessels or terminals loading them unto a vessel and for discharge to tank farms or named storages of your choice across the country. This type of business could also entail deliveries to other clients which could be in other parts of Africa and even other continents.
Popularly known in Nigeria as, Automated Gas Oil {AGO}, Diesel is one of the products in the fractional distillation of crude oil. Diesel is used to power heavy duty equipment and plays an important role in the transportation and distribution of other refined petroleum products. In –addition to this, a copy of the standard specification for automotive gasoil that is imported into Nigeria.
| SPECIFICATIONS FOR AUTOMATIVE GASOIL |
| Appearnce: Clear and bright |
| Colour ASTM(Max): 3.0 |
| Specific gravity: 0.820-0.870 |
| Acidity: Nil |
| Total Acid No: 0.50 |
| Distillation |
| a) % recovery 357 90 |
| degrees centigrade |
| v/v( min) |
| b)Final Boiling point 385 |
| degrees centigrade |
| mg KOH/g(max) |
| Flash point: 66 |
| Kinematic Viscosity: 1.6-5.5 |
| @ 37.8 degrees |
| centigrade |
| Cloud point degrees: 4.4 |
| centigrade(max) |
| Conradson Carbon : 0.15 |
| Residue on 10% residue |
| wt. (max) |
| Ash %wt max: 0.01 |
| Copper strip corrosion: Not worse than No.1 |
| 3h at 100 degrees |
| centigrade |
| Sediment % wt(max): 0.01 |
| Total Sulphur % wt(max): 0.3 |
| Water content% vol(max): 0.05 |
| Diesel index(min) : 47 |
The epileptic and poor performance of our refineries has created a large vacuum in meeting the demand of consumers of refined gasoil in Nigeria. In this context, a large vacuum has been created. On this note the government and PPMC depend a lot on the major marketers association of Nigeria (MOMAN) and the independent marketers who also include private individuals like you who are ready to seize this lucrative opportunity to break into the world of gasoil importation.
With a population of over one hundred and sixty five million { 165,000,000} people ,growing at the average rate of 2.7% per annum and an economic growth rate of about 5.7 % in the past five years, the market for refined petroleum products in Nigeria, established ,growing and sustainable.
The nation’s production of crude oil as at today is 2,500, 000 barrels per day while her refinery capacity has been below 25% of the expected output for over the past ten years thus in this regards there is a serious need to augment this short fall by importing. Further-more coupled with pipeline vandalisation the only way to bridge sustainability and supply to the whole nation especially up country where there are very few depots in Abuja is simply by importation and distribution by trucks.
It is estimated there are over 5,000 petrol retailing station in Nigeria with the figure estimated to be growing by 2% annually due to the increasing demand for refined petroleum products fuelled by epileptic nature of power supply, which makes businesses and residential apartment in Nigeria rely more on generators for constant and uninterrupted power and so the need to bridge and enhance supplies of more refined products especially refined gasoil.
The return on investment on the trading of refined petroleum products ranges from 40% – 60% per transaction depending on the season and the application.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on the importation of Automated Gas Oil into Nigeria by clicking on the link below.
Report Title: FEASIBILITY REPORT ON THE IMPORTATION OF REFINED AUTOMATIVE GASOIL {AGO} TO NIGERIA.
Report Code: FORA/010/2013/046
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