Oil and Gas Business in Nigeria: How to Get Started

Of course, you already know that Oil and Gas business in Nigeria is the real deal. This is a business that almost everyone wants to be involved in because of its ability to churn out overnight billionaires.

I don’t want to mention names but there are a lot of Nigerians that have been made billionaires overnight right before our very eyes from this oil and gas business.

The richest woman in Nigeria, who is also the richest woman in Africa and the richest black woman in the world made her fortunes from this same oil and gas business; all of it. So, it is no wonder that the oil and gas industry is a very attractive one.

However, there is this popular notion that people have about this industry, one that makes a lot of people shy away from considering going into oil and gas business.

It is generally believed that if you don’t have millions of naira, there are no opportunities for you in the oil and gas industry. This is entirely false. The oil and gas industry is a very large and versatile one and you can make a lot of investing very little if you know what your way around. I personally know a petroleum tanker driver who makes millions and drives a twenty five million naira car; no kidding.

There are a lot of investment opportunities in the oil and gas industry that include-:

1. Private Refinery

You must have heard that one of the reasons why we as Nigerians cannot enjoy our vast oil resources is that our refineries are bad. When crude oil is mined, it has to be taken abroad to be refined and then brought back for sale. This would have already doubled the price of the fuel.

So, think about a situation where you have a refinery that people can bring crude oil to be refined instead of the usual export-import style; that would make you more money than you can spend I your lifetime.

However, this is not a business you can start with little funds. You need plenty of money. But I believe that with crowdsourcing, you can get people to join you in pooling resources together to set up a mini-refinery or even a standard one.

2. Oil Mining

This is another business for deep-pocketed Nigerians with connections. Not many people can have access to this kind of business opportunity because it involves having ‘long legs’. To start this business, you must be allocated an oil block or rent one from those with previous allocations and then mine crude oil which would be eventually refined.

3. Oil Servicing

Yet another investment opportunity in the oil and gas industry is to set up an oil servicing company. Oil servicing firms provide management, maintenance and consultancy services to oil and gas firms.

Some of the services rendered by oil and gas servicing firms include construction, transportation, cleaning, recruitment, welding, catering, event planning and management, electrical engineering and supplies of products. So, if you can handle any of the services mentioned above, consider sending your proposals and reaching out to oil and gas companies for patronage.

4. Oil Importation

Importation of fuel is another business opportunity in the oil and gas industry. It is strange but true that Nigeria, in spite of its vast oil resources, still imports fuel from other countries.

5. Petroleum By-Products

People are making cool, silent money from selling by-products which are derived from refining crude oil. These products are used to produce other useful items like wax, paraffin, tar and asphalt and several others.

6.Oil and Gas Retail and Supply

This is the regular business that almost everyone in the oil and gas industry is into. It involves selling and distribution of petroleum products like diesel, kerosene and petrol.

7. Haulage

I mentioned earlier that I know a petroleum tanker driver who drives a car worth millions; well, this is what he is into. He has fleets of takers which he uses to move petroleum products around for several oil companies like Total, Oando and the rest.

8. Alternatives

You’ve probably heard of fuel alternatives like bio-fuel and fuel savers; these are hot selling products in Nigeria that you can also benefit from.

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