At 25, Rainoil Makes Fresh Investment Commitment In Downstream Sector

Rainoil Marks 25th Anniversary, Pledges Commitment To Development Of Downstream  Sector

Yemisi Izuora

The Group Managing Director of Rainoil Ltd., Dr. Gabriel Ogbechie has reiterated the company’s commitment to the development of the petroleum downstream value chain, which is critical to Nigeria’s economic growth.

 

He also stated that in line with the nation’s energy transition process, Rainoil is making great effort in boosting the economic development of the country with its sterling efforts, to ensuring in-country utilization and deepening of gas penetration in the county.

 

Dr. Ogbechie made this known in an interactive session with newsmen in Lagos to mark the company’s 25th anniversary.

 

According to the Group Managing Director, Rainoil Ltd. which started operations in May 1997 , has grown to become a prominent and dominant player in the Nigerian oil and gas industry, providing employment opportunities for about 2,000 Nigerians.

He said: “In the last 25 years, we have been able to achieve great feats in the downstream sector of the Nigerian oil and gas industry.

 

“From the retail business, where we now have presence in 26 states with over 130 stations, to being the only player in the downstream sector with bulk storage facilities strategically located in three key locations in the country.

 

“We equally established the company, Rainoil Logistics Services Ltd., which drives the delivery of our energy products to our esteemed customers nationwide.

 

“We have also recently deepened Liquefied Petroleum Gas (LPG) penetration in the country with the launch of our ultra-modern 8,000MT LPG storage facility in Ijegun, Lagos.”

 

According to him, Rainoil Ltd. has continued its upward trajectory through strategic planning, innovation and creating a conducive working environment for its employees.

Dr. Ogbechie said the company had also ensured that it gave back to the society and its host communities through its various Corporate Social Responsibility (CSR) initiatives.

 

This, he said, included construction of a block of classroom at Oghareki Grammar School, Oghara, in Delta, distribution of educational materials to students, health care interventions and sports development among others.

He said going forward, the company would key into the ongoing transition to cleaner sources of energy including the Federal Government’s autogas plan, which was aimed at reducing Nigeria’s dependence on petrol.

 

Dr. Ogbechie, however, advised the government to remove subsidy on petrol, adding that the humungous amount spent on subsidy was draining the nation financially.

 

He said the money saved from the removal of subsidy could be channeled to funding other critical areas, especially education.

 

Earlier in her remarks the Group Executive Director of Rainoil Limited, Mrs. Godrey Ogbechie used the opportunity to appreciate all the committed and loyal staff members of the company who has really shown resilience in their great support to the company.

 

Reeling out activities to celebrate the company’s 25th anniversary, the Brand and Corporate Communications Manager, Rainoil Ltd, Foluso Adeyemi said that the company will be celebrating from May 2022 till the end of the year.

 

According to her, the first major event will be a novelty march with an affliate company, followed by a glorious thanksgiving to God Almighty who has sustained the company in the past 25 years.

Customers in various Rainoil stations will experience gift giveaways and customer appreciation drives across the country. The grand finale will be a Gala night in Lagos.

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