If you are interested in starting a business in the oil and gas industry in Nigeria but dont know how and where to start, you will definitely find this information useful. Many entrepreneurs know that the Oil and Gas business is very lucrative in Nigeria but they don’t have the money to start because they think it’s capital intensive. Business-Matter.com uncover some great and lucrative opportunities in the oil and gas industry in Nigeria that requires small or no capital to start. The oil and gas sector is one of the most strictly regulated industry, but probably the most profitable and risky. In fact, crude oil or petroleum and its derivatives are essential commodities that are consumed on daily basis. Despite the demands for the adoption of alternative renewable energy resources, oil still remains the number one because 99.99% of all vehicles and machines use either PMS (Petrol) or AGO (Diesel). So the demand for petroleum products would still be on the increase even in the future except a different kind of renewable energy is invented. Starting a business in the oil and gas industry is a very profitable venture, many have made millions and others have even become billionaires.
John D. Rockefeller – Standard Oil
J. Paul Getty – Getty Oil
Harold Hamm – Continental Resources
Dhirubhai Ambani, the father of Mukesh Ambani – Reliance industries
George Mitchell – Mitchell Energy
T. Boone Pickens
Vagit Alekperov – Lukoil
Eike Batista – OGX Oil and Gas
Mike Adenuga – Continental Oil and Gas
Folorunsho Alakija – Famfa Oil Ltd
Femi Otedola – Forte Oil
The list above should inspire you to know that Oil and Gas is a very lucrative venture. There isn’t any need of becoming a resident in Nigeria, USA, Saudi-Arabia or any other oil producing country to take advantage of this opportunity. You won’t need to have big capital before you can be an oil merchant, as there are many profitable but low startup capital services that you can render in the oil and gas industry. What you need is the desire for success, and the nitty-gritty of the business before starting. So without further ado, here are some lucrative business opportunities in the oil and gas industry.
As earlier said, it should be noted that that the oil and gas industry is strictly regulated, so you could be faced with challenges of getting licensed or accreditation. In Nigeria, you will have to scale the hurdles of getting licenses and approvals from NNPC, CAC (Corporate Affairs Commission), PPPRA (Petroleum Products Price Regulatory Agency), DPR (Department of Petroleum Resources), before you can venture into the oil and gas business. Stay on the Blog for the part 2 of this post
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