Indigenous oil marketing company, Conoil Plc, has opened four new, ultramodern retail outlets in Minna in Niger state, Nsukka in Anambra state and the FCT, Abuja, in line with its long-term retail expansion drive to become the largest retailer in Africa.
The newly commissioned outlets, estimated at about N400 million include one mega station with hi-tech facilities designed to provide a variety of value-added services beyond just selling petroleum products, even as the company says that its business plan is hinged on massive investment in new retail outlets and the upgrade of its over 400 stations nationwide. It also includes the construction of mega stations in the 36 states and the federal capital territory, Abuja, which already has eight mega stations.
Among cities where Conoil mega stations are already in operation are Lagos, Abuja, Makurdi, Yola, Jos, Enugu and Port Harcourt.
To facilitate its expansion programme, Conoil added that it already has a business plan which includes chartering vessels for regular and uninterrupted importation of petroleum products all-year round to boost fuel supply in the country.
The company also disclosed that product facilities that are being upgraded include: the storage tanks at its Apapa facilities, installation for Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK).
Also being upgraded are the company’s depot in Warri as well as its aviation fuel storage capacity at its service centers in Ikeja, Abuja, Kano, Kaduna, Jos, Maiduguri and Port Harcourt.
The move is to boost its aviation business, as the company recently won major contracts for the supply of Jet A1 to five international airlines operating in Nigeria. The contracts, which were signed after a rigorous bid session conducted in Beirut Lebanon, involved world’s leading carriers from the Middle East and the Arab nations, including Saudi Arabian Airlines, Afriqiyah Airways, Egypt Air, Middle East Airlines and Sudan Airways, among others.
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