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How To Invest In Oil Industry?

I have N350,000 naira and I like to be dealing with oil industry. If anyone knows much about how I can be buying engine oil and diesel at any depot at cheapest rate, please [share].

I have constructed a 5,000 liters tank,while I'm waiting for reasonable advise so that I can buy oil and diesel into it. Please get back to me with reasonable reply Or if you have any business I can deal with my 350,000 naira.

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8 answers

yeah, that true. i think u should invest more in shares. That would be a better idea.

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with the amount of money you have u truly cant dabble into the oil and gas industry. Kerosene (DPK) and Diesel (AGO)go for about N75 per liter. You still have to hire a truck at N1 per liter. If u use ur truck, you have to register with NUPENG. I'll advise you look for someone u can go into a joint venture with. But that surface tank Kerosene thing seems to be ur best prospect. Or U can go into peddling i.e. buy diesel, park the truck (preferably ur personal truck) along the road in say V/I and retail the diesel into containers of 25/50 liters for company or personal generators.

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@ naijacutee, have you don this before nawoo you sound experienced. Anyway good idea but alfalee01 should know this it is ongoing on the streets of nigeria as we speak.

Yes it is dangerous and for the safety of others please don't do this, because it is popular does not mean it is right.

Anyway, buying shares may be too long to waite for some people even though with less risk.

My suggestion is look for another business or do middle man, so like dealer connect buyer and seller and make a commision, use your money for expenses. Good Luck

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This @ nico na wa oh am not sure ur not a disgruntled nigerian. Na all ur step papa friend dey always get bad luck for one business or the other when someone asks for information about something if you dont know anything about it keep quiet why all this negativity i no sabi which jail dey good.

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It's a very risky business to engaged into.

You MUST get a license from your local authority and

You SHOULD not have the tanker in a residential Area

The reason why I'm saying this,

my Step-Uncle's Friend in Nigeria was in this type of Business

But because he didn't do any of the above, when disaster struck he was found guilty of

negligence and he is now languishing in jail. (I heard Nigerian jails are terrible)

So You are better off buying Stocks and Shares

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thank you naijacutee for your advise.ok?

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hello man why not buy shares in an oil  company, the key thing is that you have invested in what interest you most

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I wish I knew but it seems like that is a very minute amount of money to get into Oil business,  Unless you plan on buying a kerosine tank, buying kerosine from filling stations and retailing to housholds and people that sell in bottles.

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