How to address our low gasoline levels

Last December, just around Christmas, Nigerians witnessed a sight that should be unthinkable in a country with our oil and gas resources - long, snaking queues for fuel at our nation's petrol stations. So just why is our country - one which has such rich reserves of its own - struggling to supply adequate amounts of gasoline to keep our domestic economy moving? An untenable situation "Blaming these shortages on the petrol suppliers themselves is unacceptable," says our Chairman Onajite Okoloko. "While I condemn the short-sightedness and opportunism of fuel merchants and petrol stations that hoard fuel in situations like this, their actions mask the root causes of this problem. It is clearly inexcusable that a country with the rich natural resources of Nigeria should be unable to supply enough fuel to its people - and of course much of this is down to a lack of investment in our own domestic refining capabilities. " The need for domestic infrastructure Clearly, not having enough...
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What are the biggest challenges facing our oil and gas industry?

Our nation’s oil and gas potential is huge. Back in 2015, BP’s Statistical Review of World Energy revealed that we have the largest gas reserves (180.1 trillion cubic feet (Tcf)) and the second largest oil reserves (37.1 billion barrels) in the whole continent of Africa. The same company’s World Energy Review also placed Nigeria as the region’s largest oil producer and the third largest gas producer. It’s a bright picture, that bodes well for our sector - but what are the possible challenges we face as we try to grow our domestic oil and gas industry? An uncertain world economy The global oil price has slumped since 2014, and this uncertainty has led many of the world’s leading operators to start to tighten their belts. Recent years have seen some recovery however, and - while the upturn in prices is slow – it’s clear that companies will soon be able to start thinking about developing more resources. Nigeria is very much a...
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How improved ICT and digitalisation can fuel growth in the Nigerian oil and gas industry

It’s clear that if our industry - and indeed our nation as a whole - is to be successful, then we must invest in our technology. Just as good roads and reliable logistics networks are essential to the success of any business, investing in digital innovation is a fundamental part of how we will take the next step towards a more connected, more flexible, and ultimately more dynamic economic future. Here at Midwestern Oil and Gas we understand that investing in innovative technology will bring many benefits, and it is encouraging to see that there are signs of a number positive developments in this area. Home grown talent The first of these is the progress that has made in recent years in  developing talent within Nigeria, in order to encourage technological innovation from within indigenous oil and gas companies. At Midwestern Oil and Gas we’re proud of our policies around personal and professional development, which allow our people to develop their digital...
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Investing in the next generation – spotlight on Midwestern Oil and Gas scholarships

The young people of Nigeria are our future. A healthy economy requires an educated, healthy and productive workforce to succeed, and it’s clear that there is a lot of work to be done to ensure that Nigeria’s economic dreams are realised. With the right support and encouragement, our young people will become the drivers of a home-grown economic revolution – the creators of an indigenous outpouring of creativity and industry that can revitalise our country. But for this dream to become a reality, it is obviously necessary to invest in our people. Here at Midwestern Oil and Gas we recognise this need - and through our extensive corporate social responsibility work with our host communities, we’re excited to be doing our bit to support the next generation. The workforce of the future “Education is absolutely fundamental to the future of our country,” says our Chairman, Mr Onajite Okoloko. “By assisting young people in the host communities we work in, I believe that Midwestern Oil...
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Midwestern Oil & Gas’ to Enable Food Security in Nigeria

Food shortages have hit Nigeria, due to an unprecedented increase in demand, negatively impacting quality of life for our people. Led by our Chairman Onajite Okoloko, along with Midwestern Oil & Gas’ sister firm Notore, we are working to combat these food scarcity issues. Tackling food shortages Our people need regular and sustainable access to food, to lead healthy, prosperous lives and yet food scarcity impacts millions of us. The federal authorities are now tackling the underlying issues behind this situation, for example, by making Nigeria a self-sufficient rice producer by 2018, reducing our reliance on expensive imports, to make food more affordable. Commenting, Mr Okoloko said: “We are dedicated to helping our government bring greater food security to the nation, so citizens can realise brighter futures. Through our Corporate Social Responsibility programme, we invest in areas such as education and job creation, so our people can enable food security for themselves. Meanwhile our sister company Notore provides this land’s farmers with...
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Nigeria targets 15 million new jobs by 2020

Our nation’s Minister of Budget and National Planning, Senator Udoma Udo Udoma, recently announced that our government will aim to reduce national unemployment by creating 15 million jobs by 2020. Under the leadership of our Chairman, Onajite Okoloko, we will assist our authorities in reaching this ambitious target, by creating new job opportunities. Addressing unemployment Unemployment in our country reached 11.19 million in September 2016. At a press conference, Udoma announced that our authorities will address this by facilitating 15 million new jobs in our country by 2020. Most notably our authorities will create new positions in the energy sector which will bring the country’s electricity generation operational capacity up to a minimum of 10 gigawatts by 2020, helping to solve power shortages. Commenting on this announcement, Mr Okoloko said: “We applaud the government’s ambitious goal of creating 15 million new jobs by 2020, as it will ensure that our people can access the opportunities needed to support themselves financially, and raise...
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Onajite Okoloko speaks on the revival of Nigerian economy

Our President, Muhammadu Buhari, recently stated that our country’s economy is bouncing back, following months of recession. Onajite Okoloko, the Chairman of Midwestern Oil & Gas touches on this development, explaining how Midwestern is working to provide a brighter future for people across Nigeria. Economy’s bouncing back Our country’s economy slipped into recession during the second quarter of 2016, when according to Premium Times, a national news source, our gross domestic product contracted by 2.06%, year-on-year. The rate of contraction rose in the third quarter, reaching 2.24% of GDP but dipped in the last quarter of the year, when our GDP shrank by 1.3% writes Punch, a national news outlet. The declining rate of GDP contraction indicated that by the end of 2016, our country was gradually moving out of recession. It became even clearer that our nation is now leaving the recession behind in March, when World Economics’ latest Sales Managers Index (SMI) –  which assesses how confident managers feel about the...
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Why are water and electricity such precious resources?

At Midwestern Oil and Gas, we recognise that water and electricity are important resources. Thus, we are fiercely committed to promoting sustainable water projects and electricity generation initiatives across our nation, ensuring that our people benefit from these valuable commodities. Vital resources    Water has been the lifeblood of society since the dawn of civilisation, as human beings need water to survive; our bodies are approximately 60% water, according to Healthy Eating, a wellness blog. We need to replace 2.4 litres of water in our bodies per day, making access to drinking water essential. Water also provides a massive range of additional benefits to society. We use water to clean, operate our sanitation systems, heat our homes, and for recreational purposes, among many other things. Water also has a vast array of industrial uses, such as for chemical development, agricultural irrigation and manufacturing purposes, so businesses also need secure water supplies. In the 20th Century, electricity emerged as another crucial resource. Today energy touches...
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Onajite Okoloko speaks out on water and electricity scarcity in Nigeria

It is becoming increasingly clear that the world is running out of water, while electricity supplies are limited and both issues pose a risk to quality of life globally. Nigeria is grappling with shortages of these resources, and under the guidance of our Chairman, Onajite Okoloko, at Midwestern Oil and Gas we are striving to tackle these issues, so our people can attain a good standard of living. Resource scarcity Human beings need to drink water to stay healthy, so it’s our most precious resource. But the world’s water stores are finite, and just 2.5% of supply is fresh water, the only kind we can safely consume, and only a fraction of this water is drinkable. Even that is running out, as our planet faces a water scarcity problem. Data quoted by Water Filter Answers, a resource for water safety issues, shows that 1.1 billion people (a seventh of the world’s population) currently face water shortages. During the past century, electricity has...
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Exploring Nigeria’s Place in the Global Oil Sector

Nigeria is one of the world’s most oil-rich nations. This has allowed our country to build a thriving oil production industry, contributing significantly to the global oil sector in the process… Oil resources Nigeria’s oil success story begins in 1956, when the valuable commodity was first discovered buried beneath our nation’s land. We have tapped these resources heavily in the ensuing decades, building strong oil production operations in the process. We currently generate around 2.1 million barrels per day (bpd) according to The Cable, a local news source. Evidence suggests that there are roughly 37 billion barrels of oil left in Nigeria, meaning that we can keep producing it for years to come. Major producer Our significant oil reserves have allowed Nigeria to consistently rank among the world’s largest oil producing nations. It recently re-took the position of Africa’s largest producer, for instance, from Angola local news source Guardian writes, so Nigeria’s operations have a massive impact on how much oil reaches...
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