Elumelu, Dangote Make Case For More Indigenous Involvement In The Oil And Gas Industry


I have believed that, more indigenous content in the oil and gas industry is the breakthrough Nigeria and Nigerians need to turn things around and really get to maximize our God given natural resources and cut waste out complete. It is when we start having real and more local involvement in the oil and gas industry, only then would we really start appreciating what we’ve got here in Nigeria.

At one point in this country, it was that way in the banking industry, it was like an all expatriates affair. That’s not the case today, indigenous men today are driving the banking industry and we have all been better for it. This brings to mind what companies like Seplat and Oriental Energy Resource Limited are doing in the oil and gas industry. Oriental Energy Resources Limited is headed by Dr. Muhammadu Indimi, OFR,  Executive Chairman of Oriental Energy Resources Limited. Oriental Energy Resources Limited are the 60% equity owner of the Ebok and Okwok assets, Offshore Nigeria.
These are pacesetters indigenous companies in the oil and gas industry, playing massive roles, impacting positively on the lives on Nigerians and the economy too.

Still on this big issue, Africa’s richest man, the President, Dangote Group, Alhaji Aliko Dangote, and Mr. Tony O. Elumelu, the Chairman, Heirs Holdings, also lent their voices to the involvement of more indigenous participation in the Nigerian oil and gas industry, at the 32nd annual international conference of the National Association of Petroleum Explorationists (NAPE) in Lagos, Nigeria.

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Mr Tony Elumelu in his opening speech said,“I was encouraged to come into the oil and gas industry by someone who believes deeply in Nigerian local capacity,”

“Many years ago it was the general belief that only expatriates could own and run banks in Nigeria. Today, however, the top five banks are owned and run indigenously and we need for the same to happen in the oil and gas sector,”

Also speaking at the event, Alhaji Aliko Dangote explained that, the petro-chemical plant in the Lekki  free trade zone in Lagos, which when  completed  by 2017 will employ thousands of Nigerians and turn the country into a net exporter of petroleum products.

Alhaji Aliko Dangote also spoke on the impact made in the cement industry since 2007 when Dandote cement was set up, further making a case for more local content in the oil and gas industry.