Capital oil established in 2001, Between 2003 and 2004, Capital Oil extended her business into haulage, transportation and petroleum product retail. Today, the company has built three of the largest oil and gas depots in Nigeria, and acquired the forth simultaneously. It is equally important to note here that the group accounts for about 35% of daily petroleum products distribution in Nigeria. It also employs a workforce of over 3,000 and has caused the creation of additional 1,000 related jobs. Capital Oil owns the largest fleet of marine vessels, barges, tug boats, as well as oil dispatching trucks in Nigeria. Having her directors as follows :- Dr. Patrick Ifeanyi Ubah MD / CEO. Mrs Anthonia Ubah ( Director)
AFFILIATION WITH OTHER OIL AND GAS COMPANIES
Contemporarily, Ubah’s major business is oil and gas trading, port and harbor investment in African continent. He also invested in property and real estate development, telecommunication, commodity importation, financial institution and hospitals. At the moment, Dr. Ifeanyi Ubah sits on the board of several companies including: Knoil & Hachfer Engineering Co. Ltd., Chevron Oronite & Chemical Co.Ltd, Hero Communication Ltd, First Nigerian Independent Oil Ltd, Commodity Giants Nigerian ltd, Capita Group (Congo DR) Oil Force Nigeria Limited AND American hospital Ltd; among others. Ubah’s invaluable contribution and ideas led to the construction of strategic regional oil depots within the geopolitical zones of Nigeria: Suleja in Niger State, Funtua in Katsina State, Enugu in Enugu State, Warri and Koko in Delta State. This development has gone a long way in creating job opportunities for Nigerian youths.
BASIC PROPOSITION :- There is no gain repeating the fact that oil and gas has globally balanced gaps in any country that has it on survival grant. Capita oil and gas Ltd shared the view hence this proposal, Oil and gas has impacted in our social, economic, political, finance, law and international relations. For emphasis issues towards achieving the desired result in the down stream should be looked upon. Eg:- ( CSR) CORPORATE SOCIAL RESPONSIBILITY… This has often been defined as specific narrative towards defining the real players in the Oil and gas sector. Capital Oil and Gas Ltd has the answer. With our 35% control in the oil sector today, we within the years of our existence and business partnerships come to understand the secret in the oil and gas. No record of any environmental violation nor social obstructive measures can be traced to our record. A caring and responsible organization recognises that its economic activities have deeper impact on the environment in which it operates, therefore necessary attention is given on the economic, social and human rights.
SPECIFIC OBJECTIVES :- Capital Oil and Gas Ltd is principally poised on redefining the oil down stream industry in Nigeria. Where opportunity will be bound for capital gains through high impact growth of exploration backed by a core business of production in Oil and Gas and low risk exploration. With uninterrupted production with a favoured governmental policies. Our interest is to return the era of oil boom, with our three Cardinal points and strategies :- i, CONTRIBUTION TO THE NIGERIAN DOWN STREAM FLOW.
2, ECONOMIC INTELLIGENCE CAPABILITIES and
3, MONITORING STRENGTH.
More also, It is our humble opinion to propose to the federal government to immediately raise a two billion dollars bond, which will cushion guarantee to 10 modular refinery manufacturers for immediate integration towards local petroleum refining. These 10 modulars will be located to operators with deep shore and coastal facilities, to be employed in the coastal areas of Niger delta which includes Port Harcourt, Akwa ibom, Cross river, Lagos and Delta State.
NIGERIA ECONOMY TODAY :-
Narative measures to crash the Dollar/Naira disparity… By Dr. Patrick Ifeanyi Ubah.
Nnewi-born billionaire and Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, has offered the President Muhammadu Buhari-led administration what he described as the best possible ways to addressing the biting recession, as well as crash the proliferating Dollar/Naira disparity in the foreign exchange market.
Speaking at the World Youth Gathering, Holy Ghost Adoration Ground, Uke in Idemili North Local Government Area of Anambra State, Ubah lamented that there is nothing wrong with the Nigerian economy, but rather said the country’s major problem is that it has bad economic managers.
Recall that last February, Ubah had vowed on a national television that if consulted by President Buhari, he could use his technical-know-how to stabilize the Naira to an exchange rate of N200=$1.
Then, the Dollar/Naira disparity had skyrocketed that N400 was already exchanging for $1 in the Parallel market.
Insisting on his earlier stance of possessing the technical-know-how on how the Dollar/Naira disparity can be crashed, Dr. Ubah pointed that “the only solution to Nigeria’s economic problems is one- addressing the cancer to our Forex which setting up 10 modular refineries can solve that problem. The second cancer that is affecting us is the Economic and Financial Crimes Commission (EFCC).”
The oil magnate stated at the Adoration Ground in Uke, “I said that I am going to bring down the dollars, I sought for consultations because in the past I have done so many things and at the end of the day, people took the glory. This is an issue that is very important to me. Government must understand that Bill Gates, one of the richest men in the World today said, ‘it’s not about academics, it’s about being streetwise.’
“Money-making is an art. There is nobody that can’t make money ”