As part of its growth strategy, Emadeb Energy Services Limited, a<\/p>\n
Petroleum Products Haulage and Petroleum Products Distribution Company,
\nhas ventured into ownership of retail outlets through which it plans to
\nincrease earnings.<\/p>\n
The Chief Operating Officer of the company, Mrs Kike Ojo-Awosika said in a
\nstatement that one of the twenty retail outlets, which the company
\ntargeted to build nationwide in the next one to one and a half years
\nsubject to the outlook in the downstream sector, would be commissioned in
\nAbuja on November 4 (Friday, this week).<\/p>\n
She said the decision to build the retail outlets, the significant
\npercentage of which would be sited in Abuja, Lagos and some southern
\ncities, stemmed from \u201cour growth strategy and the commitment to taking our
\nbusiness to the next level, following the commissioning of our ultra
\nmodern Tank Farm in February 2014.\u201d<\/p>\n
According to her, \u201cPrior to now, Emadeb Energy has specialised in the
\nimportation, storage and distribution of refined petroleum products,
\nparticularly Premium Motor Spirit (PMS), which forms more than 60 percent
\nof the total import in the sector.\u201d<\/p>\n
She explained that ownership of retail outlets would enable the company to
\nenjoy economies of scale, which would, in the long run, increase
\nturnover\/margins.<\/p>\n
Ojo-Awosika, who sounded confident that the market is beckoning on the
\ncompany, declared that \u201cwe currently have clients across the six
\ngeo-political zones in the country and its is important we take our
\nservices to their doorstep,\u201d adding, \u201cwe are, therefore, targeting about
\ntwenty retail outlets in the next twelve to eighteen months to increase
\nour market share.\u201d<\/p>\n
She said that \u201cthe retail outlets will increase our assets base, thereby
\nmeeting regulatory requirements for bigger transactions in the oil and gas
\nsector.\u201d<\/p>\n
\u201cIt will also increase our rating with local and international financial
\ninstitutions, thus having access to cheaper funding,\u201d she further stated,
\nadding that \u201cit will increase our market share and attract investment
\nopportunities from international oil and gas companies who may be willing
\nto partner indigenous entities.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
As part of its growth strategy, Emadeb Energy Services Limited, a Petroleum Products Haulage and Petroleum Products Distribution Company, has ventured into ownership of retail outlets through which it plans…<\/p>\n","protected":false},"author":1,"featured_media":54159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-54158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n