The retail arm of the Nigerian National Petroleum Corporation (NNPC) will by the first quarter of this year launch its lubricant brand into the Nigerian market as part of strategies to improve revenue and expand NNPC’s retail market share.
The Managing Director of NNPC Retail Ltd, Mr. Adeyemi Adetunji, who said this in an interview published in the Q4 edition of the corporation’s in-house magazine, added that the management of NNPC and its Group Managing Director, Dr. Maikanti K. Baru, have given more support to the business.
“Lubricants are one area that NNPC Retail has been planning to go into for some years. Our top management plus the GMD have given us more support to ensure that by quarter one (Q1) of 2019, we launch our lubricant brand into the market,” he said.
The GMD said the company was working on a target from the NNPC management to construct 17 new retail sites across the country within the next one year.
“This is just one step. We also have a plan to do more in 2020 and beyond,” he said.
Adetunji added that efforts made by the company to improve revenue have yielded results in the last 12 to 18 months.