September 21, Nigeria Gas A lot of investment opportunities abound in the natural gas sector of the Nigerian petroleum industry. Increasing attention is now being given to this vital sector.
Step By Step Guide 1. We covered over 35 of them in a previous article, and choosing the right match for your business is critical to your success.
But most people who want to get into the oil and gas business have little to no cash to startup, and so, are left with no choice but to look elsewhere. If you want to venture into the oil and gas industry in Nigeria, the first step is to start out as a commodity broker.
You could broker transactions between a crude oil buyer and seller, Gas Oil AGO buyer and seller, and much more. By choosing the oil brokerage route first, you can venture into the oil and gas business and still earn high margins.
It is difficult for international buyers to trust a trading company that is not registered. You need to organise yourself properly by first registering with the CAC, registering with the FIRS, registering with any required oil and gas agency, setting up a website, getting an office preferably a co-working hub or work from homeand much more.
Lastly, you need to hire great marketers to source international and local buyers for your oil and gas company in Nigeria.
These marketers should not be required to visit the office daily, but should mostly work with commissions that would ensure they make so much if they can close a deal for your company. That aside, you can market your services online on social media, contact international export councils, register on online platforms like Alibaba, and much more.
The more deals you can close, the easier it will be for you to build a recognised, successful, and reputable oil and gas business. Low consumer purchasing power. Poorly managed supply chain. Lack of experience causes sellers to either purchase the wrong specifications, underprice or overprice their products, and much more.
Fake buyers wasting exporters time with fake inquiries. Most prospective entrepreneurs have little to no access to finance for their projects.
Your time could be wasted as a result of long-term conversations with oil buyers who have no real money to pay or oil sellers who have no means to supply.
The large pool of fraudsters posing as oil and gas sellers makes it difficult for buyers to trust you. Conclusion The oil and gas business in Nigeria is a Lucrative and profitable venture, due to its vast market demands, oil prices, and a wide supply chain network.
What are your thoughts on how to start a lucrative oil and gas company in Nigeria or Africa? Let me know by leaving a comment below.The years since World War II have seen a variety of changes in the energy industry, including a shift in many areas from private to state ownership of oil and natural gas .
If you’re looking for a lucrative business to venture into, starting an oil and gas company in Nigeria with an initial focus on brokerage is an exceptionally lucrative one. Professional Business Plan Writing Service. Writing a bank and investor ready professional Oil And Gas business plan can be challenging.
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. Everything in Nigeria practically depends on oil. Now running a business in the oil and gas is a very lucrative venture, many have become millionaires and few went on to become billionaires as oil and gas (Black Gold) merchants.
Below are some people who made their wealth in the oil and gas industry. According to OPEC, Nigeria made $77 billion from oil exports in — and that was a low year. The U.S. Department of Energy says Nigeria’s oil . application of indirect taxes in their jurisdictions that will significantly impact the oil and gas industry.
Furthermore, Mexico and Nigeria are implementing significant legislative changes to .