Nigeria’s hydrocarbon sector has largely been about extraction of crude oil for export and importation of petroleum products for consumption.
And when the authorities talk about diversification of the country’s economy, the focus isn’t always about diversification within the hydrocarbon industry itself.
“We should include talk about diversification within the oil industry”, says Ebi Omatsola, founding Chief Executive of Conoil.
This kind of thinking is already enshrined in the draft National Oil and Gas Policies, widely circulated in 2016, but not gazetted.
One company that has actively interrogated the industrial economy through its hydrocarbon assets is Niger Delta Petroleum Resources (NDPR) Limited.
Layi Fatona, who just left the mantle of the CEO, explains in this video.