From June, 2013 Foraminifera Market Research would start publishing our E- magazine. The magazine would focus on investment and business opportunity in Nigeria. Be the first to get hot investment and business opportunities in Nigeria by subscribing to our E- Magazine, Investing in Nigeria.
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LUBRICANT OIL {ENGINE OIL} PRODUCTION IN NIGERIA; THE OPPORTUNITY.
Petroleum products are useful materials derived from crude oil (petroleum) as it is processed in oil refineries. Major products of oil refineries includes asphalt, liquefied petroleum gas, diesel fuel, lubricating oils, fuel oils, gasoline, kerosene, paraffin wax, tar, petrochemicals.
The importance of engine oil cannot be over emphasized. Oil is the life of any engine. Its main role is to provide lubrication to moving parts and transfer heat. It keeps the moving parts from grinding against each other causing wear and damage.
The demand for engine oil in Nigeria is from vehicle owners, generators owners, industries and motorcyclists. Engine oil is used by both petrol and diesel engine oil, though in different grades. The petrol engine oil are used in serving passenger car (light cars) while diesel engine oil are used in servicing generators (small and big) and also for heavy cars(diesel cars). There are still grades of diesel engine oil (monograde and multigrade) monogrades are commonly used in Nigeria, although pple are now beginning to appreciate multigrades. The viscosity of the oil is a function of the grade.
Viscosity is the measurement of how thick the oil is. Multi grade oils are rated typically with 2 numbers which show:-
1) The thinness (viscosity or how runny it is!) at low temperature (W= winter)
2) The thickness (viscosity or how sticky it is!) at high temperature
The first number denotes the weight of the oil when cold and the second number denotes the weight of the oil when operating at optimum temperature.
The raw materials required for the production of Lubricants are readily available in Nigeria. It can be sourced from virgin material or through recycling.
The production process for engine oil involves procurement of base oil from refineries; the procured base oil is now filled into the blending plant after which additives such as detergents, anti-corrosive chemicals, dispersants are added. Heating and agitation simultaneously take place to achieve blending of the oil with the chemicals.
After blending, the product is allowed to cool down before being filled into various containers such as drums and kegs. Prospective investors can be assisted in terms of formation, production and sourcing of inputs including production machines.
The Lube market consists of two major segments, automotive and industrial, having a market share of 70% and 30%, respectively. Most of the competition is crowding into the first category. In the automotive segment, while cars, Generators and two or three wheelers segment accounts for 65% of the market, diesel operated engines, trucks and other heavy vehicles have the bulk share of 35%.
The lubricating oil and grease are one of the most important sectors of the petrochemical industry. The size of lubricating oil and grease market in Nigeria is estimated at over N 700 billion and is growing at around 3.5% annually.
Do you know you can access to over 50 market research reports and our monthly E- Magazine for 12 months for just N 5,000?
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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.
Should you require a feasibility report on the above subject matter, please do use any of the means below to reach us.
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HUMAN DEVELOPMENT PROGRAMMES AND TRAINING OPPORTUNITY IN NIGERIA
Our human development training programmes are designed to assist our client set-up their respective business on a sound footing.
The training cuts across different segment of the economy to include Agriculture, Export and Import, Food and Beverage, Manufacturing, Mining and Quarry, Oil and Gas, Retail Industry, Telecommunication, Tourism and Transportation and are facilitated by seasoned professionals in their respective fields.
Please do visit the link below to access available training programmes
http://foramfera.com/index.php/human-development-programmes-and-training-opportunity-in-nigeria
We prepare business plan, feasibility study and market report for the small and medium scale industries and develop the entrepreneurial capacity of our client with the aim of providing the much needed business data in Nigeria.
In keeping with our vision of providing services that adds value to our clients business and resources to develop their business into a strong and visible global brand, we would like to introduce to you to our sister websites
www.nigeriaoilandgasportal.com {The one stop for the oil and gas industry in Nigeria}
www.nigeriabusinessplace.com {Online Business Forum}
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