How to Start a Nigerian Oil and Gas Company

The Oil and Gas sector serves as a major source of revenue in Nigeria. Any person intending to start an oil and gas business in Nigeria must comply with certain legal requirements. This write-up will give a breakdown of the step-by-step procedure necessary to set up an oil and gas business in Nigeria.

The following steps must be followed to start an oil and gas company in Nigeria:

Registration of Company

Registration at Corporate Affairs Commission
This applies to all businesses owned by nationals, foreigners, or both. The Companies and Allied Matters require all businesses to be registered with the Corporate Affairs Commission (CAC). The process is seamless and carried out online by accredited agents of the CAC. This enables the business to acquire a separate legal entity through which it can sue and be sued and acquire property. The documents given to the company upon registration ensure legitimacy and builds trust among its customers. They also serve as primary documents requested during contracts or when opening a bank account. One could also register as an enterprise (business name). However, this would limit the type of permit it can be granted to carry out certain activities in the oil and gas sector.

 Registration at National Investment Promotion Commission

This is only required for businesses having foreign participation. Every company with foreign ownership is required by the National Investment Promotion Commission Act to register with the NIPC before commencing business in Nigeria upon incorporation at the CAC.

Tax Registration & Obtaining Tax Clearance Certificate (TCC)

It is pertinent for a company intending to engage in the oil and gas business to register with the nearest branch of the Federal Inland Revenue Service (FIRS) and obtain a Tax Clearance Certificate (TCC).

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For more enquiry on How to Start a Nigerian Oil and Gas Company, and for further guidance and professional services in obtaining any of the aforementioned license/document kindly reach out to SOW Professional via ;

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