Many people are talking about what the Dangote refinery means for Nigeria. However, beyond the macroeconomic impact of the 650,000 barrels per day refinery for the nation, I have asked what this means for me and other opportunistic entrepreneurs who wish to take advantage of the large-scale refinery.
If you’re like me and you’re wondering what business opportunities come with the Dangote Refinery, then here are some;
Cybersecurity Firm
This is a tech blog, so the first business opportunity has to be tech-focused. These days, the battles fought between nations and corporations are mostly cyber. We have companies and countries hacking and looking for ways to infiltrate and destabilise networks and tech infrastructure. If you are good at detecting and preventing cyber threats, then you should set up a cyber security firm and pitch your services to Dangote refineries or other refineries.
Transportation and Logistics
Next on the list is that refineries need a constant supply of crude oil as well as a steady distribution of refined products. For a refinery of this magnitude, they most likely already have logistics partners but if you are adamant like me, you won’t let it stop you. If you can find a way to be a logistic plug for the Dangote refinery, then you’re in for a lucrative deal. Here, you can consider a shipping and freight business, a pipeline network or a trucking service.
Fuel Distribution
Also, you can focus on starting a business specifically purposed for the sale of refined petroleum products like diesel, aviation fuel, petrol, kerosene, etc. Also, you can venture into becoming a wholesale fuel supplier, setting up fuel stations or building bulk fuel storage facilities.
Chemical Manufacturing
In refining crude oil, there are a variety of byproducts and feedstocks being produced. If you have an interest in chemical manufacturing, then you would do well starting a business that uses these byproducts to produce chemical products for different industries.
Equipment and Maintenance Services
Oil refineries need specialized equipment and machines. Starting a business that supplies, rents, maintains, repairs or provides the spare parts for these machines and equipment can be lucrative for the right person.
Refineries require specialized equipment, machinery, and maintenance services. Starting a business that provides equipment rental, maintenance, repair, or spare parts supply can be a viable option.
Waste Management and Environmental Services
Refineries generate waste products and require environmental compliance. Establishing a business that focuses on waste management, recycling, or providing environmental consulting services can be in high demand.
Industrial Supply
Refineries have various operational needs, including safety equipment, chemicals, tools, and industrial supplies. Setting up a business that supplies these products to the refinery and related industries can be a viable option.
Training and Consultancy
Refineries need skilled workers and specialized training programs. If you have expertise in the oil and gas industry, consider starting a training and consultancy business to provide workforce training, safety programs, or technical consulting services.
Others include Research and Development of New Oil Refining Technologies, Petroleum Trading and Brokerage Services, Lubricant Manufacturing and Distribution etc.
Before you go into any business, you have to assess the market and consider if you have the necessary resources to service a clientele like the Dangote refinery. You also have to do your research into the competition and meet up with the regulatory demands of the industry. DO take time to network with industry professionals and experienced service providers in the business you are interested in.
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