According to a Punch report, Filling stations across the country make approximately N184m profit daily from the sales of Premium Motor Spirit (otherwise called petrol).
The paper bases this on information from the Petroleum Products Pricing Regulatory Agency who says filing stations are making N4.60 on every litre of petrol sold to final consumers.
They then multiplied this by 40million litres a day which the Pipelines and Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, says Nigerians consume everyday putting the total figure at N184million a day.
Whilst this calculation looks rather rudimentary and may not account for different inefficiencies across filing stations, it does put a perspective to how lucrative the business is if run properly.
Also the figure refers to all filing stations combined so one will have to divide N184million by the number of filing stations in Nigeria to get a rough estimate of how much each make daily on the average.