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Bitumen Business in Nigeria: How to Start and Make Money from it

Bitumen Business in Nigeria | How to Start and Make Money from it? There is vast potential in the Nigeria solid minerals industry and Bitumen seems to be one of the most untapped.

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Since a vast deposit of Bitumen has been untapped for many decades now.

There abound lots of opportunities for making money from Bitumen Business in Nigeria.

To a large extent.

However, the development and exploitation of Bitumen Business in Nigeria have been on the artisan level for quite some time.

Bitumen

Due to the non-formalization of the operational permit needed to legalize it by the Government of Nigeria.

Nigeria has an estimated bitumen deposit of about 42.74 billion metric tons, according to Foraminifera, being the second largest worldwide.

Bitumen was discovered in Nigeria in 1990, covering a land mass stretching from Lagos to Ogun, Edo and Ogun state respectively.

What is Bitumen? Prospects and Opportunities.

All along, the discussion has been on the prospects in the Nigeria Bitumen industry.

Little or no thought has been made as to what really, bitumen is. So, what is bitumen?

Bitumen is a black colored composition of highly viscous.

And sticky compound which is composed mostly of very dense polycyclic aromatic hydrocarbons.

Bitumen is completely soluble in carbon disulfide.

Bitumen occurs naturally or as a residual fraction gotten from the fractional distillation of crude oil.

Being the heaviest fraction, the tar-like petroleum compound is also sticky and has a boiling point of about 525 degrees centigrade or 977 degrees Fahrenheit.

Further refining of bitumen can yield products such as asphalt, gasoline, and fuel oil which can be used commercially.

With all these realities, it is, therefore, arguable that bitumen is the right item for trade at the moment for people with a medium and large budget.

Let us now see how you can make money by engaging in bitumen business.

Someone is already making a decent income from bitumen business.

The name is God‘s Own Business Int‘l Ltd.

What they do is a supply of bitumen to road construction firms for building roads (Startup.info).

You can also be like this, or even diversify the business by seeking alternative routes around the bitumen industry.

Let us now see a number of ways you can make money from the Bitumen business in Nigeria.

1. Sale of the product

Many people are currently into sales of bitumen and bitumen additives across the country.

You can do likewise. For example, you can easily source for and sell the BITUMEN X125 or 6070 brands and make good money from it.

Popular ready buyers are road construction firms and others who use bitumen for one purpose or the other.

2. Distribution and Exportation of Bitumen

You can make a decent living from distribution and exportation of bitumen to other countries.

For example, you can supply bitumen to neighboring countries such as Uganda.

As well as distant lands such as Malaysia, Indonesia, Vietnam.

With a reliable and well-established contract and agreement.

you can make good returns with guaranteed long-term business contracts.

Bitumen Grades that sell well

Some of the common grades of bitumen for international trade and export includes the Hard Paving Grade (EN 13924, CE marking required) and Industrial Bitumen (EN 13304, CE marking not required).

Your capacity to supply highly stiff and low penetration grades of bitumen goes a long way in driving you more customers, sales, and leads. so, you can leverage on this.

Other grades of bitumen that sell well are the hard having bitumen grades 10/20.

Which is most suitable for producing mastic asphalt.

on the other hand, you can also market 90/10 high penetration index grade bitumen wit high penetration index as well as ideally low-temperature characteristics.

The most common market for these grades of bitumen is the roofing felt and water-proofing, mastic asphalt as well as sealing sheets.

3. Go into Bitumen Extraction and Processing

The Nigerian market is still virgin when it comes to bitumen extraction and exploitation.

If you have the means, you can take up this field and make good money by engaging in bitumen extraction and processing.

The steps below may guide you to success:

The first thing you have to look at is the feasibility of the exploitation process.

And your expected Returns-on-Investment, (ROI).

You have to consider this very importantly as bitumen is a highly volatile hydrocarbon.

Which extraction process can result in the release of so many lethal side effects.

4. Citing a Bitumen Extraction Company

I have already made a point on Returns-on-Investment, (ROI).

For example, a bitumen plant using dual-drum configuration is likely to maximize fuel efficiency .

And at the same time, cut down pollution by hydrocarbon compounds.

If you decide to go with a clean-burning plant.

On the other hand, the life of the bag house would be extended while the performance/efficiency of a dual-drum setting would result in increased production.

It is recommended that you set up and easily configured plant.

So as to make expansion of the facility easy.

Hence, lowering the risk of wearing out of specifications.

You may have to use this feature for separate tasks.

You need to do concrete research as well as develop a feasible business plan for your bitumen exploration and extraction company.

This should take care of materials, workers, machinery and facility.

Conclusion

You can make a huge profit as a producer/manufacturer of bitumen on Nigeria.

Alternatively, you can decide to go into bitumen sales within the country.

Of course, you would always find ready patronage from the construction, especially road construction companies/firms.

Another sector that would readily make use of your service is the sealant industry including roofing felt and water-proofing, mastic asphalt as well as sealing sheets’ firms.

What about sending bitumen products and additives to the international market via export?

Do you know you can make a huge profit from that line also? Think about it.

Bitumen in this country is a largely untapped solid mineral and the earlier you key into it, the better for you. Give it a trial today and you won’t regret it.

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