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Eterna secures NNPC’s multi-million naira lube blending contract

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Eterna secures NNPC’s multi-million naira lube blending contract

Lube firm surges Nigeria’s multi-million dollar lubricants investments

Eterna Plc has secured a multi-million naira lube blending contract from the Nigerian National Petroleum Corporation (NNPC), New Telegraph can report authoritatively.

The deal, which is one of several mouth-watering contracts advertised by NNPC Retail Limited to add value to its operations, is to aid introduction of its new brand of premium quality lubricants into the Nigerian market.
Managing Director of the Eterna Plc, Mahmud Tukur, confirmed this exclusively to New telegraph on the sideline of the launch of Castrol products in Lagos, maintaining that his company had perfected plans to surges the multi-million dollars lubricants market in the country.
The Tender Details for all the contracts seen by this newspaper read: “NNPC Retail Limited is an active player in the downstream marketing of petroleum products in Nigeria with over 500 Retail outlets. As part of the strategic objective to add value to its operations, NNPC Retail is keen to introduce its new brand of premium quality lubricants into the Nigerian market.”

To this end, Pre-qualification tender for the blending of lubricants – Provision of lubricants contract blending services, was advertsised by the corporation for “Procuring, stocking and managing all base oils and additives for every production order.”
This also includes “receipt and proper handling of packaging materials on behalf of NNPC Retail Ltd. Blending, testing for quality, filling, packaging, labeling, intermediate storage and loading of finished lubricant products into NNPC Retail’s trucks. Provision of storage facility within the plant for the finished/blended lubricants for a maximum initial period of at least one (1) month without charge.”
Tukur, in line with this, said that Eterna Plc, which he said has many years of experience in this sector, has secured a contract for lube blending from the NNPC.

Although the Chief Executive Officer of Eterna Plc did not disclose the value of the contract, this newspaper gathered that the deal valued at several millions of naira.
Aside from this, Tukur maintained that his company has retained its contract with Castol as the sole representative of the over 100 year old lubricant in Nigeria.
“Over the next few months we will be rolling out sales points nationwide, appointing distributors in strategic markets, partnering with independent retailers and constructing our own mega stations in key cities including Abuja and Calabar,” he said.

Stating that the company has come out stronger despite all the challenges it has faced, Tukur noted that Eterna PLC is “extremely proud of our partnership with the inventors of ‘Lubrication’ Castrol, a company which had been in the business for more than 100 years and continues to be a global leader, pushing boundaries with its unique slogan.. “It’s more than Just oil, it is liquid engineering.”
The journey, according to him, began as far back as 1991 through the vision of the company’s founder, Otunba Tunji Lawal Solarin, when Eterna started importing and distributing Castrol Lubricants in Nigeria.

“A robust marketing structure was set up and with increased market sales, Eterna began to manufacture lubricants locally through a third-party facility on an interim basis,” he said, adding that the aim was always for the company to own its blending facility and this dream became a reality when Eterna secured a US $940,000 loan from the International Finance Corporation (IFC) in 1995 to construct what was to eventually become one of the best and most modern lubricant manufacturing plants in Africa,” he said.

The Eterna boss continued: “Castrol designed the plant and provided the required technical support during construction ensuring that the plant met global standards. Twenty years later, Eterna’s 15,000MT capacity state-of-the-art lubricant manufacturing plant, which is fully owned through its subsidiary Eterna Industries Limited, is one of the only 3 Castrol accredited blending plants in Africa.”
The Plant is located in Sagamu, Ogun State on a sprawling 5 hectares of Prime Industrial Real Estate.
“The Plant is equipped with a state of the art laboratory which supports the blending activities as well as used oil analysis services for customers. This is vital technical support which we provide to our customers to enable them optimise equipment uptime and avoid failures where possible, through early detection and diagnosis.

“The lab frequently participates in ILCP (Inter Laboratory Correlation Programmes) exercises where it is provided with random samples to test and the results are benchmarked against many laboratories scattered all over the globe. I am pleased to report that Eterna’s Laboratory has continued to retain its global rating and is currently pursuing its ISO 17025 certification.

“The overall activities of the blending plant are supervised by Castrol’s Global manufacturing and Technology teams, ensuring that our staff are exposed to the latest manufacturing and testing methods, resulting in the highest quality manufactured lubricants.
Between 2009 and 2015 post the acquisition of Castrol by BP, Eterna was majorly active in the Marine and Energy sectors, providing premium lubricants to tanker vessels, supply vessels, port operators, FPSOs and drilling rigs.

In 2015, we commenced further discussions with Castrol to extend our licencing rights to cover the Automotive and Industrial Sectors, culminating in the signing of a sole distributorship agreement in February 2017 for the Automotive and Industrial range of Lubricants for the Nigerian Market.
If you miss everything else from this briefing today, I would like you to depart from here with one simple and clear message.. Eterna Plc is the only company licenced to manufacture and distribute ALL Castrol products in Nigeria and are duty bound to protect all the inherent intellectual property rights. If you attempt to purchase or acquire Castrol products from any other source ‘na you sabi’ and ‘‘you go smell pepper’’.
Over the next few months we will be rolling out sales points nationwide, appointing distributors in strategic markets, partnering with independent retailers and constructing our own mega stations in key cities including Abuja and Calabar.

Eterna PLC is the first fully indigenous oil marketing company to be listed on the floor of the Nigeria Stock Exchange (NSE). Despite all the challenges it has faced, the company has come out stronger, its balance sheet is very healthy and we are now poised to deliver exceptional value to our shareholders, staff, distributors and partners.

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