Financial Energy Review
.. eyes strong growth, digital transformation in 2024 …..
NIPCO PLC has achieved a significant milestone in its business operations with over 250 branded outlets in the company’s two decades history.
This landmark achievement was announced by Suresh Kumar, Managing Director/CEO of NIPCO Gas, during the company’s 2023 Annual General Meeting held at the Abuja Continental Hotel ,FCT Abuja .
Kumar highlighted that the acquisition of these stations for white oil products, including petrol and diesel, was unprecedented in the annals of downstream operations in the nation’s hydrocarbon industry .
He emphasized that this expansion reflects NIPCO’s commitment to enhancing its market presence and distribution network across Nigeria.
“The acquisition of over 250 branded outlets for white products and Liquified Petroleum Gas alone is a phenomenal achievement for NIPCO PLC,” Kumar stated.
“This strategic move will significantly boost our capacity to serve our customers better and strengthen our position in the Nigerian petroleum market.”
” Despite the challenging conditions in the nation’s downstream sector, especially during 2023, which was an election year in Nigeria, with extensive politicking, NIPCO PLC managed to increase its retail outlets footprint across the country ” he noted .
Looking ahead to 2024, after achieving sustainable growth for almost two decades of operations, Kumar expressed confidence in NIPCO Gas’s commitment to its unique business models and sound practices that guide daily operations, which he credits for the company’s robust business fundamentals.
“We are dedicated to improving our service deliverables to customers while making conscious efforts to optimize shareholders’ value,” Kumar stated.
He reiterated NIPCO Gas’s commitment to providing superior services through the constant deployment of world-class equipment, aligning with the company’s vision to be the first-choice company in the oil and gas industry for all stakeholders.
“The company will continue to bolster its investment in the hydrocarbon industry and remain a key partner with the Federal Government in providing alternatives to petrol as auto fuel via CNG use,” Kumar added.
NIPCO’s investments in infrastructure to ensure the widespread availability of CNG across the country will receive renewed focus, driven by the positive environmental and economic impact of increased CNG adoption.
“NIPCO will deepen its use of technology and accelerate digital transformation, resulting in greater convenience for our customers and stakeholders alike,” Kumar said.
He assured that the company is optimistic about achieving meaningful growth in all lines of business in 2024 and beyond.
