Given the nations potential as the sixth largest crude oil exporter in the world, Nigeria has a comparative advantage over it’s neighboring west African countries as the hub of oil and gas activities in the region and the major destination of foreign direct investment in the region.
A lot of investment opportunities abound in the oil and gas industry in Nigeria and one of such opportunities is in distribution, storage and marketing of refined petroleum products.
As an independent petroleum product marketer in Nigeria, an investor can store and market petroleum products and there are two {2} ways becoming an independent petroleum products marketer in Nigeria, namely
1.Building your won filling station
2.Leasing a filling station
Approval must be sort from the zonal office of the department of petroleum resource for investors interested in building their own filling station and below are the legal requirements
1.An incorporated company
2.Tax clearance of three {3} years
3.Certified True Copy {CTC} of your article and memorandum of association, with one of the objectives dealing in petroleum products.
4.Site Survey of the station
5.Survey Plan
6.Pressive test certificate
7.Police report of traffic hazard
8.Fire and safety report
9.Building Plan
10.Certificate of occupancy / customary right of occupancy.
With the aforementioned documents and an application letter, the investor can now apply for inspection of the proposed site to the department of petroleum resource.
Having gone through this process and your application compared with the statutory requirements, an inspection report from the zonal office of the department of petroleum resource where the station is domiciled will be forwarded to the head office in Lagos for final confirmation.
After the confirmation, a storage and sales license would be issued to the investor.
In the case of the lease option, the only difference is that the required documents would be submitted through the former owners of the filling station.
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Iyana Ejigbo Shopping Arcade,
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