Yemisi Izuora
Grand Petroleum a subsidiary of NOSAK Group is deepening its investment in the country’s lubricants sub-sector of the economy.
To achieve this the company has increased its installed plant capacity to 30,000 metric tonnes per annum.
The company said its range of auto lubricants have been duly certified by the standards Organisation of Nigeria (SON) thus making the products very competitive in the market.
Speaking at the launch of the company’s “Loyalty Promo” designed to reward distributors across the country, Chief Operating Officer (COO) of NOSAK Group, Mr. Joseph Oboko said the “High Speed” brand of its product is currently competing favourably with existing ones in the market.
Oboko said the product emerged in the market in 2006, from a pilot plant in Lagos, with a capacity of 6,000 metric tonnes.
Following expansion initiative embarked upon by the company, the lubrication plant was expanded to 30,000 metric tonnes per year to satisfy increasing demand of the product.
He said locally made auto lubricants are now being accepted in the market and competitively being accepted.
“With the influx of substandard products from outside the country and experience of motorists in the hands of such importers, locally produced lubricants are now gaining acceptance” he said.
Oboko said the company would likely divest into other segments of the downstream sector following ongoing transformation in the industry.
Testifying to the quality of the product, one of the major distributors, Mr. Tony Nsitem, managing director of Elton Ventures said “High Speed” brand of lubricants is gradually dominating the market.
Nsitem said he has been a major distributor of the brand in the lst seven years and testimonies of consumers have been encouraging.
