Dr. Sampson Uche Ogah, Founder/President, Masters Energy Group
THE TOP10 MAGAZINE BUSINESS PERSON OF THE YEAR
Dr. Sampson Uche Ogah, Chairman of Masters Energy Group, is a typical hard-nosed businessman. He spots opportunities in the midst of adversity. It’s trite to state that the Nigeria business environment has been experiencing severe dislocations since the withdrawal of subsidy on petrol mid-2023. The inclement business environment created by that policy has forced so many businesses to cut back their operations, shelve business plans or shut down completely.
But it was in that hostile business environment that Dr. Ogah chose to make major investment and expansionist moves. “Masters Energy Group is positioning to expand its business, increase presence in the Nigerian market and ultimately achieve an exponential revenue growth through massive investment, partnerships, and new products,” Ogah told reporters early this year at the end of the Masters Energy Group 2024 Senior Leadership Strategy Retreat, held in Lagos early this year.
For Masters Energy Group, that new positioning has begun to bear fruits. It has given birth to new and, enhanced operations as well as new products and services. One of them is the Joint User Hydrant Installation 2 (JUHI-2), Nigeria’s largest aviation fuel depot with a storage capacity of 15 million litres of Jet A1 fuel, which was commissioned this October. The state-of-the-art depot is a partnership between Masters Energy Oil & Gas Ltd, Eterna Plc, Techno Oil, Quest Oil, Rahamaniyya, Ibafon Oil, and First Deep Water Limited. The facility which spans 46,000 square meters is set to revolutionize aviation fuel logistics, offering unparalleled efficiency, safety, and cutting-edge technology.
Masters Energy’s new services in the aviation sector are not limited to airline operators. The company has also extended personalized airport protocol services and exceptional hotel reservations and tour packages to passengers and tourists through its Cardinal Points business arm. It is also offering energy independence to consumers via Masters Energy solar panels. The solar energy services it provides include expert solar installations, supply of premium solar panels and inverters.
Masters Energy Group has also expanded its business into logistics and interstate travel services with the launch of Alsa Logistics Limited, marking a significant milestone in its commitment to delivering comprehensive and reliable services across the country.
In the area of manufacturing, the conglomerate is also looking to introduce new product lines like household products, with a projection that, by the end of this year, Masters Energy products would be in every household in Nigeria. The company is also considering exploring opportunities in the export business to enable them overcome challenges associated with high exchange rate. Similarly, the Group is expanding its footprint in the Liquefied Petroleum Gas (LPG) business. In 2023, it performed the flag-off of the Masters Energy 40,000 metric tonnes LPG storage facility in Port Harcourt, Rivers State. It hopes to complete it before the end of next year.
The company is planning to take the oil and gas downstream market by storm with its massive investment, new products, and innovation. Masters Energy presently has about 300 retail outlets across major cities in Nigeria with not less than 50 more outlets scheduled to come on stream before end of this year.
Dr. Ogah is not only focused on growing the company but is also developing its management capacity and capabilities. Only recently, he completed a prestigious leadership programme at University of Oxford with Honours. The remarkable achievement demonstrates his dedication to personal and professional growth and earned him invaluable insights and advanced skills that will by extension greatly benefit the company as it strives for innovation, growth, and success.
Dr. Ogah, a holder of Bachelors of Science degree in Banking and Finance and an MBA, began his working career at the defunct NAL Merchant Bank where he did his national youth service, before joining the defunct All States Trust Bank and Zenith Bank. He resigned from Zenith Bank as an Assistant General Manager, to establish Masters Energy Oil and Gas Limited, incorporated in Nigeria in 2005. Beginning business in the oil and gas sector, Masters Energy Oil & Gas Limited has evolved into a diversified Group, providing services not only in the Oil and Gas sector, but also in other strategic sectors of the economy such as Manufacturing of Fast-Moving Consumer Goods (FMCG), Aviation, Shipping and Marine, Real Estate, etc. The members of the Masters Energy Group include Energy Oil and Gas; Masters Energy Plastic Industries; Masters Noodles and Food Processing; Masters Energy Commodities and Trading; and Masters Renewable Energy.
Others are: Alsa Petrochemicals Limited; Alsa Logistics; Masters Properties Development & Investment Limited; Masters Bureau de change; and Modern Standard Insurance. The rest include Amicable Oil and Gas; Olive Microfinance Bank; Olive Payment Solution; Destiny Marine; and Masters Dredging and Shore.
Dr. Sampson Uche Ogah’s selection as the Top 10 Magazine’s Business Man of the Year is in recognition of his many accomplishments in expanding the frontiers of the Masters Energy Group as a formidable force with tentacles in strategic sectors of the Nigerian economy.
