Chika Amanze-Nwachuku and Ugo Aliogo
In line with its commitment to drive excellence in the downstream sector of the Nigerian oil and gas industry, Heyden Petroleum Limited has inaugurated its mega petrol station in Victoria Garden City (VGC), Lagos.
This is coming barely three months after the firm unveiled one of its rebranded retail outlets, located in Alapere axis on the ever-busy Third Mainland Bridge, Lagos.
The unveiling of the mega petrol station, the first of its kind, will bring succour to residents of VGC, Lekki and Ajah areas of Lagos State, who hitherto, were faced with challenge of petroleum products shortage owing to few petrol stations in those areas.
Speaking during the inauguration of the petrol station at the weekend, the Chairman of the company, Dapo Abiodun, said that the mega station has 29 pumps, out of which 24 pumps will dispense petrol.
“The station is strategically positioned and it will change the way fuel is being sold here. We are very thankful to the VGC residents and we want to assure them that this is their primary station,” he noted.
He remarked that the Alapere station which was opened few months ago is meeting the fuel need of residents of the area as well as motorists that ply the route. He explained that Heyden decided to expand its investment in the downstream sector of the petroleum industry by acquiring 50 retail outlets across the country.
Abiodun commended President Muhammadu Buhari and the Minister for State for Petroleum, Dr. Ibe Kachikwu, who unveil the new mega petrol station for deregulating the downstream sector and reducing the burden of subsidy which he noted was a huge burden on the Nigeria government.
He explained that the reduction of subsidy encouraged a few of the marketers to take giant strides in investing in the downstream sector, adding that the move was an important step in repositioning the sector.
He added: “Today is a very special day for us at Heyden. When the Minister for State Petroleum, was appointed, he challenged every marketer. The challenge was that we don’t have enough petroleum stations in the country. For instance, in Victoria Island, there were only three filling stations. This is why if there is a slight tightness in the supply of petroleum products, there will be queues.
“One of the many things that Kachikwu, ensured that marketers did, was for them to begin to invest in the downstream sector through petrol stations. What he did was to give incentives and increased the margins that existed compared to what was obtainable.
“Moreover, to the glory of God and the efforts of President Muhammadu Buhari and Kachikwu, we were able to deregulate the industry which has been a problem to us in the past. Everyone is aware of the story behind the subsidy regime; it was something unthinkable which could happen.”
