Burning Bright
Nigeria has long been Africa’s largest oil producer.
Despite fluctuations in commodity prices in recent years having an impact on production, the country continues to produce more than any of its African neighbours, the sector being an enormous contributor to its GDP of $376 billion.
An ongoing success story in this market comes in the form of Rainoil, incorporated in 1994 and later commencing business in May 1997 under the leadership of Founder and Group Managing Director Gabriel Ogbechie.
In an exclusive interview, Ogbechie tells the story of Rainoil’s rise, detailing the firm’s ambitious plans to expand its presence having celebrated 20 years in existence in 2017. “We couldn’t help but roll out the drums and celebrate our achievements,” he tells us. “The mortality rates for startup companies are very high in this industry, and when you start with as little as we did people don’t tend to rate your chances too highly.
“What is a true delight, however, is that we have not only managed to survive for over 20 years, but equally we have expanded to provide ourselves with the perfect platform to kick on and consolidate our position as one of the most influential players in the Nigerian downstream space.”
Also pioneering in Nigeria’s oil and gas industry is Caverton Helicopters, provider of crucial air transport services. We speak to Rotimi Makanjuola, the company’s Chief Operating Officer, about plans for growth and the introduction of state-of-the-art simulator technology, among other exciting developments.
Before these insights you will find exclusive commentaries from agriculture giant Cargill and Standard Bank, both exploring the tremendous benefits to be reaped from digitising farming processes across the continent. Digitisation is also at the heart of Visa’s activity in Africa, the company’s SVP Aida Diarra revealing how it is teaming up with innovative fintechs to bring payment solutions to more consumers and businesses.
These are just a few of many exclusive features in another packed edition, which also covers industries from retail and mining to supply chain and transport.
Finally, be sure to read our business travel guides on Ethiopia and Djibouti, both containing comments from important tourism associations on their respective industries and trends impacting activities.
Enjoy the issue!