The cycle of life encloses good and bad times. People are considered smart when they can tell these seasons apart and take advantage of them. It can be said that certain Nigerian magnates, namely Sayyu Dantata, Auwalu Abdullahi Rano (AA Rano), Emeka Okwuosa, and Olu Fagbemi fit snugly within this category in light of recent events in Nigeria’s oil and gas industry.
Things have taken a turn for the better for Dantata, AA Rano, and the listed magnates. This turnaround is represented by the latest business move by the Nigerian National Petroleum Corporation (NNPC) Limited in which it awarded big contracts to Dantata and the others.
The news is all over the place and stirring envy in some of the big names in the oil and gas industry. The reason for the unbridled envy is that the beneficiaries of the contracts are so few, only four of them. Secondly, the contracts are worth millions of dollars. Thirdly, seeing as all the contracts were awarded to indigenous companies, the contractors have a shot at retaining this position and partnership with NNPC.
The contracts awarded to Dantata’s MRS Oil Nigeria Plc, Rano’s AA Rano, Okwuosa’s Oilserv Limited, and Fagbemi’s Macready Oil & Gas Service Company have to do with pipeline rehabilitation. The projects are centred around the revitalisation of the country’s pipeline infrastructure. It is expected that the completion of the projects will mark a new era of productivity and growth for the industry.
Considering their worth, the projects will serve as a launch pad to greatness for Dantata, AA Rano, Okwuosa, and Fagbemi. Even though these magnates are already established in the oil and gas industry and can call the shots in their respective regions, the NNPC contracts can push them to the national/federal level.
