Chineme Okafor in Abuja
The Managing Director of the Nigerian National Petroleum Corporation (NNPC) Retail Limited, Mr. Yemi Adetunji, on Tuesday disclosed that the downstream retail subsidiary of the corporation has set its sights on taking and satisfying about 15 per cent of Nigeria’s downstream petroleum market share in the next one year.
Adetunji said during a press briefing in Abuja to announce the subsidiary’s imminent inauguration of a new mega filling station it built along the Lagos-Shagamu expressway in Ogun State, that it currently has 14 per cent of the market share under its belt, but would want to grow it to 15 per cent.
He also explained that between four and five per cent of the country’s Liqufied Petroleum Gas (LPG) market was under its control, but it would shortly grow that market share to 10 per cent to advance the federal government’s plan to promote LPG usage in the country.
Adetunji, stated that in line with the 12-Business Focus Areas (BUFA) of the corporation, the subsidiary company embarked on the construction of mega stations across the country, adding that two more new mega stations in Port Harcourt, Rivers State and Yenagoa, Bayelsa State would be inaugurated in the last quarter of 2017 and first quarter of 2018 respectively.
“It is a state-of-the-art 22-nozzle station. It has a bigger capacity, would be 24/7 open, available at all time. It is much bigger and can serve more vehicles conveniently at the same time.
“It has room for expansion to build a hotel and park tankers for drivers that want to relax and lay over. It is along Lagos-Ibadan expressway,” he said about the Lagos-Shagamu Expressway mega station which is expected to be opened next Thursday.
Also, ahead of the upcoming yuletide celebrations, Adetunji stated that the retail outfit had stocked up its stations across the country to meet the demands of Nigerians that would travel within the period to celebrate with their families.
He also said the outfit has begun a sanitary exercise against its stations and affiliates that engage in corrupt practices of products under-dispensing to their The exercise, he noted would reduce incidences of under-dispensing especially from affiliate filling stations.
“One of the key factors in retail business is that customers get value for what they pay for. We have a zero-tolerance for under-dispensing.
“We have a network development and control section that monitors under-dispensing, and policing the sales and our dealers. We have sanctions if they are caught. If it gets to a point, then contracts of dealers will be terminated,” Adetunji said.
When prodded for instances of cases where action had been taken against erring dealers, Adetunji said: “For stations that take our brand names as theirs, we have some cases in court. For those we have terminated relationships with, we are following through with the process until we totally disengage them.
“Our brand equity in 15 years is one of the highest in the country, and we can’t allow any dealer to toy with that, as we are one of the companies declaring profits in this industry.”