LAGOS – 11Plc,one of the nation’s oil marketing company,is optimistic of brighter future built on positive outlook and strong resilience in the nation’s petroleum industry.
Its Managing Director, Adetunji Oyebanji, who this at the company’s Annual General Meeting,which took place at Abuja Continental Hotel,FCT, recently.
Hevalso said the company hopes to build on the current momentum which is predicated on better management of the economy.
According to him, the company’s integrated business model coupled with the sound financial measures being adopted across it’s business lines gives it hope for brighter outlook in the ongoing transformation of 11Plc.
He said: “With our projections coming to fruition, we look forward to a bigger and more powerful projects coming on stream which would undoubtedly boost the company’s bottom line”.
The company has about 250 retail outlets in Nigeria, offering quality services to motorists.
Adetunji, maintained that the stations remain a benchmark in the industry with high ethical standards and adherence to global practices.
He expressed optimism that Nigeria’s downstream sector, will continue to benefit from the company’s brand for value addition and sustenance of noble legacies.
The company,Oyebanji said,is solidifying its footprints in the marketing of white oil and gas products,adding that it’s currently taking steps to position itself in the gas sector.
He disclosed that the company’s Liquefied Petroleum Gas is growing fast with the deployment of more skids in its retail outlets as well as the colocation of Compressed Natural Gas outlets in the stations
He said,huge financial commitment has been made in this respect which has resulted in significant improvement in all areas of the company’s operations.
He added:”Seven years after the takeover of 60percent equity stake of ExxonMobil in former Mobil Oil of Nigeria by NIPCO Plc,the parent company had made significant investments in its facilities to increase productivity and meet market demands”.
He expressed excitement over the company’s performance in the last financial year, adding that the company will continually adhere to the corporate culture geared towards good yield on investment with due consideration for the overall capital growth of 11Plc.
Adetunji reiterated that the company’s workforce will continue to elicit its positive attention in the face of the current economic challenges in the country.
Read the full article here
