A combination of factors like vandalization of oil distribution pipeline and the inability of the four {4} local refinery in Nigeria to meet the local demands of the country in terms of refined petroleum products has created the need for the importation of the these products and storage in tank farms for subsequent re-distribution to other parts of the country.
From there offshore position to discharge these products from the vessel into the tank farms an harbor is required and this only means that the location of the tank farm would be close to a large body of water {sea/ocean}. These factor has limited the distribution and spread of tank farms in Nigeria with most of them located in Lagos, Port Harcourt, Warri and Cross River areas where large body of water exist with Lagos accounting for over 65% of the product distribution network in the country.
The northern states in Nigeria are usually land-locked in nature and at such to get the products to there areas , one would require the use of trucks especially since the collapse of the rail system in Nigeria.
The influx of trucks into the Lagos metropolis for the purpose of lifting and loading refined petroleum products has no doubt created a lot of traffic congestions for commuters especially in areas where these tank farms are stationed.
In order to mitigate these traffic problem as a result of trucks parking along the road,the Lagos state government established the Bola Ahmed Tinubu Truck Terminal at Orile-Iganmu with a capacity to accommodate 1000 trucks .Similarly,the neighboring Ogun state established a truck terminal in the state but inspite of all these investment ,more still needs to be done especially if you add to the fact the construction of the Lagos-Badagry expressway would take about 50% of the holding capacity of the Bola Ahmed Tinubu Truck Terminal at Orile-Iganmu.
These unconventional investment opportunity in the oil and gas industry in Nigeria is open to any savvy investor to take advantage of and make good returns .
Construction of truck terminals is one of those project that government is interested in partnering with interested investors to develop and can be seen as the real estate aspect of the oild gas industry and like you know ,real estate investment is one of the best investment windows in the world.Once the structure is on ground, it continues to make money for the investor.
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1. SETTING UP A HAULAGE BUSINESS IN NIGERIA; THE REPORT.
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