he rise of the domestic oil industry is the most important development in the Nigerian energy sector in recent years. It means the creation of vital jobs and the promotion of technical skills and expertise among local industry.
Sea Petroleum & Gas Company (SPG) is typical of the new breed of young and ambitious firms that have grasped the opportunities presented to them under the newly-liberalized oil and gas sector.

Formed in 1992 as an independent marketer of oil products, with one gas filling station, the company has since expanded into new areas such as engineering, logistics and distribution.

SPG’S President and Chief Executive, Princess Stella Oduah, says the firm now boasts 20 gas stations located in major cities throughout the country, plus a sizable marine fleet, and extensive supporting infrastructure and facilities. It has a presence in all the main oil and business centers in Nigeria.

“For the first time in the history of the oil and gas industry, the government is providing opportunities for local companies to really be part of the sector,” she says.

The joint-venture approach is essential, enabling large foreign firms to nurture the growth of Nigerian oil companies. SPG has linked up with various overseas players to grow its business. It operates a number of partnerships with American firms and is eager to build new ones.

Princess Oduah believes the U.S. can play a bigger role in Nigeria by providing investment capital, and working with the local oil sector. Over the next five years SPG hopes to expand operations along the west African coast, and to enter the offshore marine technical and logistics business.

She is committed to Nigeria leading by example, and SPG is working to increase the number of women in the Nigerian oil sector. “We must provide leadership and development initiatives,” she says.