NNPC Retail Limited, the downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) has revved up competition in the lubricants retail market with the introduction of new engine oil products, boosting options for consumers.
The new offerings include Nitro (Diamond, Gold, Super, 2T) and Nitro Super 40, all designed for petrol-power engines, while the diesel propelled engines have the Rhino (Rhino HD40 & Rhino X) engine oils.
The lubricants market currently boasts of popular brands such as Total Quartz, Castrol Edge, Mobil SUP, Mobil 1 and Forte Oil Super V amongst others.
Speaking at the unveiling ceremony in Abuja, Mr Mele Kyari, the Group Managing Director of the Corporation said the entry of NNPC into the lubricants market was to ensure that the corporation opened up new areas of revenue generation while ensuring stakeholders reaped bountifully from the participation of the corporation in the entire value chain of the oil and gas industry.
Kyari said NNPC Retail Limited had a history of accuracy, saying when it sold a litre of product, the customers actually got a litre.
He added that overtime, the company had built trust in customers, expressing the expectation that it would not only maintain the trust, but also carried it into the lubricant business to give Nigerians value for money.
Yemi Adetunji, Chief Operating Officer, Downstream, whose unit superintends the operations of NNPC Retail Limited, expressed confidence that the entry of the company into the engine oil market would provide refreshing options to customers. He informed that the new products have all the required ISO certification, noting that the company would take full advantage of its massive outreach across Nigeria to push the products to all corners of the country.
“It’s prosperity for our partners, prosperity for NNPC Retail Limited, prosperity for NNPC and prosperity for all Nigerians who now have a product they can truly call their own,’’ he said.
The new products are expected to be available nationwide by February 2020.
