THE IMPACT OF OIL SECTOR ON THE NIGERIAN ECONOMY CHAPTER ONE 1.0 Introduction Nigeria is a major of crude oil and importance or of this commodity has been highly manifested in the nation’s economy. Oil and gas company in Nigeria is a major industry that is supporting the global economy. please reply me. Overall, your experience and likes are what will help you decide where to invest. Can I invest it in oil gas for more years? LAGOS (Capital Markets in Africa) – Nigeria is currently facing significant challenges in its petroleum industry because of the volatility of oil prices1, pipeline vandalism and illegal refining.It is clear that the country must reduce its reliance on crude oil income by developing its midstream and downstream sectors and leveraging on its natural gas reserves. From one tanker, you can expand to build fleet of Tankers and huge Haulage company. Share your articles, stories or happenings around you with us.+90 533 832 5802 (WhatsApp Only)Email: info.heraldnigeria@gmail.com, Investment in Nigeria’s oil and gas suffers highest decline in three years, says Report. Already i am talking with a chinese company which i want to lure to this. If I have the money I will surely invest in refinery. I mean engine oil alone for now. I know a man some years back who only manage to sustain himself through his local tea making – gradually he raised money and built his first small filling station in a local area – today he has over ten Petrol Filling Stations spread across the states. 3. Africa Oil & Power is the African continent’s leading investment platform for the energy sector. We heard what happened during the fuel subsidy scam probe and thereafter? Are they still oil and gas investment opportunities in Nigeria? Nigeria’s oil is situated in Niger Delta around the coastal areas of south-east Nigeria. CAN YOU MAKE AVAILABLE TO ME A BRIEF PROPOSAL ON HOW TO ESTABLISH A GAS PLANT BUSINESS, HELLO PLS I NEED ADVICE ON THE COST OF BUILDING A 5 X 5000MT TANK FARM WITH PIPING, CIVIL (FENCING, ADMIN BLOCK, FLOORING, TANK BASE, JETTY ) UP TO PAINTING ON A 16 PLOTS LAND SPACE. Yea, the industry is full of good people and good money. Mr. Samuel N.B Ezindu (President), 12C OGOLOMA OROWORUKWU BY ST.JOHNS BUS STOP OFF ABA ROAD PORTHARCOUT RIVERS STATE NIGERIA. The oil and gas sector is one of the most important sectors in the country’s economy, accounting for more than 90% of the country’s exports and 80% of the Federal Government’s revenue. Please i want you to give me step by step brief on how much it will cost me to include the cost of the product from NNPC. Thanks for the info sir, i want to start a kerosene outlet with 60000 litres tank size and a pomp ie fuel station pomp. You and your group can grab part of it take the step and invest now. It cost between $5 billion to as much as $500 billion to build one and take at least two years to complete. You too can invest in importation and make legitimate money. According to him, the lack of significant investment in the industry until the recent Nigerian Liquefied Natural Gas, NLNG, Train 7 FID, continue to limit the overall contribution of the sector … Thank you, It will do well with Supply of diesel and Kerosene supply in Large quantity. The companies are also exploring opportunities to supply gasoline to West Africa through Nigeria. (adsbygoogle = window.adsbygoogle || []).push({}); According to BBC report:  Nigeria is one of the world’s biggest oil producers but most of its people remain mired in poverty. Oil And Gas Investment Opportunities in Nigeria, Sahara Reporters, Omoyele Sowore Net Worth ($10m), BellaNaija, Uche Pedro Net Worth and Biography, Tony Elumelu Net Worth ($1.98billion) And Biography, How To Start Gold And Jewelry Business In Nigeria, RE: How do I Contact Buyer of Plantain Flour in Nigeria, RE: Mini Importation Business & Social Media Masterclass. Monetization of gas sector will attract investment in midstream sector – Tony Attah Russia considers cutting government borrowing as oil prices rally Universiti Teknologi Petronas continues its reign in the 2021 QS World University Rankings by subject Who do I meet, where do I go, what are the requirements I must meet? base on what you mention on whoever that can invest with 5.m with get a 10percent of the capital at the end of every month which is 500k. The price for haulage services ranges from N20, 000 to N200,000 per trip, depending on the location the product will be taken to and the capacity of the tanker. You will be buying crude oil here in Nigeria, refine and sell locally to millions of dealers and distributors, export to other African countries and even Europe, plus you make millions of dollars from other petroleum by-products. Oil and Gas-Wealth56 Comments. You're doing a good job here Mr Darlinton. I just wonder why people like Dangote and co can not do this even if only as a service to Nigeria and Africa? We are involved with purchase and sales of petroleum products. That is what filling station owners and other dealers do. Mr darlington, I have been promised of support in oil business, all i need to do is to have tankers that can lift oil from source to my destination. It is one of the most essential aspect of Upstream and Downstream sector of Oil and Gas Industry. From there, you can make more money to move up. plz what requirement do i need to start diesel supply since you siad you are into it already? What I mean is: After reading through this post you decide if you can afford building a Refinery or a Kerosene Tank by the roadside. Pls advice me on what step to go with. Specifically, the result shows that a unit increase in foreign direct investment into the oil sector at lag 3 will increase Nigeria’s GDP by approximately 16 units. The growth was from a modest figure of 0.184 billion barrel of oil and 2.260 billion cubic feet of gas in 1958 to 25.93 billion barrels of oil, 3.80 billion barrels of condensate and 158 trillion cubic feet of gas, as at December 2000. I m interested in being a broker. Oil and gas companies are recognized as multi-billion companies with thousands of workers as they invest heavily in oil rigs. Please i will like to know the procedure of the business and how to go about it. Fuel Importation – This is where all the big men are falling over each other, making untold billions of legitimate and corrupt money. Hello mr darlington, i have 3000000 to invest in this business, please i want you to me how far i can go with this amount of money. Before you talk of investing you need to know where to invest, the decision you make after this depends on your capacity. The Nigerian oil and gas industry has been vibrant since the discovery of crude oil in 1956 by the Shell Group.However, the sector was largely dominated by multinational corporations until the early 1990s when Nigerian companies began to make a foray into the industry. My broda God bless u 4dis info.like u said dat one can start it more or no capital.how can we do dis cos most of us are only doing a mini business & could not afford more dan #300,000 2 start up.pls how do i go from here.tanx, Start with kerosene distribution/retail or Engine oil sales. Try and gather more knowledge in this sector before investing, with the amount you have you can go into buying in bulk and distributing it, which is very fast to distribute since you are a bulk seller. Thanks, you can add with other investors Good morning, pls. If you can afford this or there is anyway you can pull together Investors who are ready to shell out huge fund go for this. Make sure you carry out due consultation to be sure of what you're getting into. And I heard u must have up to at least 5mil dollars before u venture into importation. OIL AND GAS INVESTMENTS IN NIGERIA: EMERGING REGULATIONS AND INCENTIVES. Oil and gas machinery is key due to its unrivaled potential as a source of investment opportunities for U.S. businesses in Nigeria. The Upstream sector is mainly for multinationals and big investors who has the money and the expertise. I remember in those days when Filling Station owners used to go to the nearby refinery to buy their product directly and the cost of fuel per litre was about N10 then. Oil Servicing Business – Oil and Gas installations requires constant maintenance and servicing. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment … I need extra amount and possible way to grow in a tym as this. I need to be enlighten on oil products and basic steps to take to start with 300k. 4. How can i get tankers and storage facilities to be able to benefit from the promise made to me? I think the reason most Nigerian billionaire don’t want to invest in this is because they prefer to steal money from Government through importation. MATHIAS EKWEREMADU JR., OON: YOU CAME, YOU SAW, YOU CONQUERED, COVID-19 vaccination: We must rally behind government to fight unseen enemy - Gbajabiamila, FC Barcelona and Real Madrid must repay state aid, Photos: Governor Uzodimma receives former President Goodluck Jonathan, Photos: CAS inspects ongoing projects in Kainji, Gombe. We have contracts with some of the largest Russian Refineries to purchase 50,000 metric tonnes and more, of any petroleum derivatives to sell to our waiting customers on a CIf ( Cost insurance and freight) basis. +2347065392321. Necessary Documents for Starting Export in Nigeria. On the Internet there is a lot of information for learning forex trading. This is our position and we are willing to perfect it. Nigeria Oil and Gas Market, Size, Share, Outlook 2020 to 2026 is a premium market research report focusing on factors driving and challenging the industry, Market Trends, recent industry developments, Key Players Analysis, market share, size, forecast, segmentation, Business … Hello Darlinton, thank you so much for the informations you share, am looking to invest in the kerosen business, but my challenge now it how to get the product(DPK) from NNPC, please any information about these or how i can go about it would be well appreciated. I am into diesel supply on a small scale nd i wud like to get bigger so how do i get investors or capital to start up. I have as little as N500,000 only. Start by securing your supply license then the rest may do for product buy. What Are The Top 10 Products Being Exported Oversea? Business observers believe that the oil and gas sector offer consistent opportunities for marketing essential capital equipment and … There are significant investment opportunities in the downstream sector of the oil and gas industry in Nigeria. 1. Statistics have it that there are over six thousand {6,000} independent petroleum products marketers and six {6} major marketers of distributing and marketing petroleum products across the … I'll appreciate if you can give me some links to that. We will be able to pay up this loan in one year from the profits realised from this venture. Some of our customers have given us a Bank Guarantee as Bond to pay us on delivery of the product to their tank storage facilities. and buy a full shipload of the product, here you are rolling Fuel importation is a big money business and heavy infrastructures are also required. Please, i want you to update the text on oil and gas to keep with the current trend of things . August 2018 (JUST ROUGH ESTIMATE) PLEASE. Wats your email pls. The Governor of Imo State Dist. Investment Ideas In Nigeria’s Oil And Gas Sector by bizngr(f): 12:18pm On Jul 22, 2014 The Nigerian oil and gas sector presents one of the most profitable areas of business interest in the country. Contact professional consultants in that field and trained engineers to do the project mapping, evaluation, and construction estimation for you. but I will advice you with the amount you have you can add with other investors and buy a full shipload of the product, here you are rolling with the big men in nigeria and you will make serious millions at a month. YBB pls inbox me if you’re serious on oil petroleum products biz 08075551133 I have something very for you as a good point to start. Everything in Nigeria practically depends on oil. Nigerian oil and gas Industry is the engine of the Nations economy – an economy that suppose to be the biggest in Africa and one of the biggest in the world if not for mismanagement and corruption. Whichever way you take, you are sure to make good money. Read this article, copy the url below and paste to your browser to access it, http://www.bizham.com/petroleum-products-marketing-in-nigeria-practical-guide/, Kindly enlighten me on how to get supply of kerosene directly from the NNPC. 2. Helo…plz am a student nd lookin 4 ways 2 make extra cash..don't wanna always depnd on my mum 4 evryting..tried sellin tings 2 my fellow students bt it did'nt work out well..soo tinkin of somfin elz 2 do…like a job…don't rily got much money 2 invest lik dese oda guys..bt wuld sure love some advice or hlp if pocible…tnkz nd God bless, THANK U MR DARLINGTON I HAVE BE THINKING OF WHAT TO DO, NOW AM SO HAPPY TO KNOW YOUR SITE. Nigerian economy has high propensity of return on capital. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, and please keep your comments relevant and respectful. Only the lazy will not find such... Firstly, you need passion to stay long on forex market. Now i want to ask,if i am taking the right step or does it seem huge to venture into? Those who are into it are making double kill from the sale of products and Government subsidy money. It funds The Government, the meager infrastructure, and the untold huge corruption that runs into hundreds of billions of dollars! As shown in BP's latest Statistical Review of World Energy, which … Aliquam sit amet urna lorem. Delta Governor Ifeanyi Okowa says Nigeria's oil and gas industry has lost substantial investments … Share what you know with others by commenting…, You are doing a wonderful work on this site, God will surely reward you. By clicking "Sign up" you indicate that you have read and agree to the privacy policy and terms of service. Muhammadu Buhari, re-elected as president of Nigeria in February, has a second four-year term to revive the economy and address the needs of the country’s ailing oil and gas sector. I wanna know how to get the license snd requirements. Aug 20 th, 2013 Delta Governor, Senator Ifeanyi Okowa, on Monday said Nigeria’s oil industry had lost substantial investments due to delay in the passage of the Petroleum Industry Bill (PIB). Huge money is flowing in Nigeria oil and gas sector. It is one of the most essential aspect of Upstream and Downstream sector of Oil and Gas Industry. Pls i would like to have your contact to know more. Vestibulum bibendum felis sit amet dolor auctor molestie. Duis eu imperdiet nunc, non imperdiet libero. Can you send me your email to discuss more, Good day sir,i’ve 10000 naria with me which of the oil & gas can i go into. Nothing is to huge if you plan carefully. Okowa stated this when he received the Co-Chairman, National Assembly Joint Committee on Petroleum Industry Bill, Rt. We are interested in seeking a loan of $50,000,000 USD for logistics and marketing of this products. This is where the business of oil servicing companies comes in. Learning so well, and also understand the market movers,  when... Darlington Omeh The level of impact could be because the oil and gas sector of Nigeria is mainly managed by foreign investors.