Business Hilights

Tracking Nigeria's Headline Business News Online

Sylva NNPC lube
Energy

Bad foreign engine oil products forced NNPC to launch lubricants—Okoye

Chevron
Advertisements
Ad 2
Advertisements
Ad 3
Advertisements

The Managing Director, NNPC Retail Limited, Mr Billy Okoye has given further insights as to why the company embarked on producing world class lubricants for vehicles and engine use in Nigeria.

Speaking in an interview shortly after the unveiling of the range of lubricants in Abuja, he said the retail subsidiary of the Nigerian National Petroleum Corporation (NNPC) invested in the lubes based on strategic researches and market intelligence conducted by the oil firm.

According to him, the report of the findings showed that Nigerians want indigenously produced engine oils.

Sylva NNPC Lube 2
Display of new range of NNPC Retail Limited lubes at the launch in Abuja. Photo: Business Hilights

Okoye added that the NNPC new range of lubricants is suitable for vehicles used in Nigeria. Okoye, he noted that “Our marketing intelligence showed us that Nigerians were yearning for their own national lubricants; one they can call their own.

“We found that most of the problems motorists had on Nigerian roads were as a result of poor maintenance of their engines. We found that the poor maintenance was as a result of the lubricants used. We also found out that most lubricants used were not to the satisfaction of Nigerians,” Billy Okoye noted.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.