BY VICTOR AHIUMA-YOUNG & ONOZURE DANIA

NIGERIA Employers’ Consultative Association, NECA, has called on Small and Medium Enterprises, SMES, in Nigeria to tap into the business opportunities in the Oil and Gas sector, saying from the N888 billion provision made by the Federal Government to subsidize importation of fuel, a new set of billionaires will emerge in the country.

Director-General of NECA, Mr. Segun Osinowo said this at a one-day forum on Business opportunities in the Oil & Gas sector for SMEs in Nigeria organised by the Women arm of NECA’s Network of Entrepreneurial Women, NNEW. He implored SMEs to tap into the opportunities that would arise from this development.

Mr Oshinowo urged the participants to be focused because the various presentations made at the forum by experts in the sector would generate ideas that could be tapped into to benefit from the openings in the Oil and Gas sector.

He applauded NNEW for putting together such informative and enlightening programme that can generate wealth for Nigerians.

Speaking, Dr.  Ibilola Amao, Consultant, Lonadek Nigeria Limited,  who spoke on New opportunities in oil and gas industry for SMEs, said since the Nigerian Content Act was passed on April 22, 2010, it had opened wide the windows of opportunities for Nigerians to go into the oil and gas industry.

She said the business opportunities and project activities that were handled by expatriates were no longer reserved, and that consideration should be given to Nigerians first, saying: “so where a Nigerian can demonstrate capacity, capability and competence, the Nigerian will be given the business, rather than the expatriate. Nigerians should get a copy of the Nigerian Content Act, read it and will find a lot of activities and different activity areas, where Nigerians are expected to be players in the oil and gas industry.”

According to Amao, one of the reasons we lose foreign direct investment to other countries is because security is a major issue in Nigeria. Infrastructure is another issue and also, human capital. If we have global human capital to drive those projects, then security may not really be too much of an issue because the expatriate may not need to come here, we would do the jobs ourselves.

Speaking on the critical factors required to succeed in the oil and gas sector,   Mr. Tonye Cole, Managing Director, Sahara Oil, said “if you must succeed, you must play it hard because “Oil, is a dirty product but the business itself is just as dirty as the product. If you do not have stomach for risks, you should stay out of the business as the business is full of risks and challenges.”

According to him, “in the business of oil and gas, your competitors will do all sorts of things to try and beat you to different deals. But the person that matters to you most should be your client.