How profitable is engine oil business in Nigeria?

Engine oil business is a profitable business to do in Nigeria. As a fast-moving consumer good, it has been estimated to have a 20% profit capitalization as Returns on Investment (ROI) few months after startup. An investment of N200,000, for example, can yield about N40,00 as profit (minus capital).

How do I start a engine oil business?

Requirements to Start Engine Oil Business

  1. Get a Warehouse. Depending on the quantity you are willing to buy for a starter, you may need to rent a space secured enough to house your products. …
  2. Survey the Opinion of your Potential Customers. …
  3. Get Supplying Companies. …
  4. Get a Truck. …
  5. Create Awareness.

Is lubricant business profitable?

Also, the growing consumer awareness regarding the use and advantages of engine oils and other lubricants is another a major reason. … Hence, starting a lubricant manufacturing business is a highly lucrative business for the entrepreneurs who want to start a business in the petrochemical industry.

How do I start a lubricant business in Nigeria?

Guide To Starting Profitable Lubricant Engine Oil Business In Nigeria (2019)

  1. Learn the business first at an engine oil wholesale or retail store.
  2. Build a kiosk suitable for an engine oil business.
  3. Join the association of engine oil dealers in your state or locality.
  4. Reserve some capital to start this business.
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How much is engine oil in Nigeria?

1.2 Total engine oil price in Nigeria

Brand Quantity sold Price
Total Quartz 9000 Energy 5W-40 5 liters ₦20,500
Total Quartz 5000 20W-50 4 liters ₦5,500
Total 5W-30 Full Synthetic 5 liters ₦5,500

How profitable is selling of engine oil?

Engine oil business is a profitable business to do in Nigeria. As a fast-moving consumer good, it has been estimated to have a 20% profit capitalization as Returns on Investment (ROI) few months after startup. An investment of N200,000, for example, can yield about N40,00 as profit (minus capital).

How much does it cost to start an oil company in Nigeria?

It takes a minimum of 4 – 14 working days to complete. The minimum share capital is one (1) million share capitals. As at the time of writing this article, it could cost you Eighty Five Thousand Naira (₦85,000) to incorporate an organization one (1) million share capitals.

How do I become a Mobil Oil distributor?

Retailers – Road to Success

Enrolling in the program is very simple. Mobil oil distributers who have participated in 2018 will automatically be registered in the 2019 Road to Success program. The distributor will fill the registration form online on your behalf and will enroll you into the ‘Road to Success’ program.

How can I make engine oil?

Lubricating oil is refined from crude oil. After undergoing a purifying process colled sedimentation, the crude oil is heated in huge fractionating towers. The various vapors—which can be used to make fuel, waxes, or propane, among other substances—boil off and are collected at different points in the tower.

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How can I become an independent oil marketer in Nigeria?

You can’t stand alone as an independent marketer. You have to join an association called IPPMAN (Independent Petroleum Products Marketers Association of Nigeria). In fact you are compelled to join this association. There is a compulsory fee you are required to pay called union charge.

Which is the best engine oil in Nigeria?

Reviews on best synthetic oils in Nigeria

  • Mobil 1 94001 5W-30 Synthetic Motor Oil. …
  • Shell Rotella T6 Synthetic Motor Oil. …
  • Valvoline OW-20 Synpower Full Synthetic Motor Oil 5qt (813460) …
  • Pennzoil Platinum. …
  • Liqui Molly 2041 Premium W5-40 Synthetic Oil. …
  • Royal Purple High Performance 5W-30 Synthetic Oil.

19.08.2019

What is the price of Castrol engine oil?

Castrol Activ 4T 20W-40 Petrol Engine Oil for Bikes (1 L)

M.R.P.: ₹ 352.00
Price: ₹ 337.00
You Save: ₹ 15.00 (4%)
Inclusive of all taxes

How much is 5W-30 oil in Nigeria?

Total engine oil price in Nigeria

Brand Quantity sold Price
Total Quartz 9000 Energy 5W-40 5 litres ₦20,500
Total Quartz 5000 20W-50 4 litres ₦5,500
Total 5W-30 Full Synthetic 5 litres ₦5,500
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