This Day: Nigeria: Special report on indigenous oil and gas

Nigeria’s indigenous oil and gas industryhas evolved over the years. Even though it took so long forit to achieve its present status, it could be said to have contributed its quota to the economy.

The oil and gas industry, which is the mainstay of the nation’s economy, accounting for more than 80 per cent of the total revenue, has produced local operators thatare competing favourably with multinationals in terms of capacity and are in fact, gradually reclaiming the sector.

The indigenous firms have been able to build capacities up to international standards with the deliberate policy of the Federal Government, which has encouraged local participation in the industry, hitherto the playing field of foreign operators.

The journey to the current dispensation in the oil and industry, which began in the colonial era, has been very eventful with interesting milestones.
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