CDN Oil Expands to 2 States, Seals Distribution Deal With NONIKS Oil
- CDN Oil and Lubricants has expanded its growth to two Southeastern states in Nigeria
- The company also notched up a deal with another firm, NONIK Oil, for the distribution of its products
- The companies said the deal was to boost the operation of the firms and enhance efficiency in the Nigerian lubricant market
Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
One of Nigeria's fast-growing lubricants and engine oil firms, CDN Oil and Lubricants Limited has continued its expansion drive to dominate the nation's lubricants market, sealing a multimillion-dollar deal with Noniks Oil and Lubricants, owned by a US-based scientist, Dr. Nonye OnyewuenyI, for the sole distribution of CDN products in Abia and Imo States.
In a statement, Onyewuenyi expressed confidence in the partnership to distribute quality engine oil products in South East Nigeria.
Source: Original
Products to boost the lubricant market in Nigeria
Onyewuenyi said:
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"I am delighted to have sealed this sole distributorship deal with Nigeria's fast-growing lubricants and engine oil firm, CDN Oil and Lubricants Limited. The company's commitment to quality, excellence, and innovation aligns seamlessly with my vision for delivering top-tier products to consumers in Nigeria, and we are confident about the potential of this partnership."
Onyewuenyi, an expert with over 25 years of experience in healthcare Drug Product and Analytical Product development, said the faster growth prospects offered by CDN's innovative products and the interest to tap from Nigeria's large market population facilitated the partnership with the engine oil and lubricants company.
She said CDN Oil & Lubricants has demonstrated an apparent dedication to producing high-quality products that meet international standards. The focus on innovation and customer satisfaction positions them for faster growth in Nigeria's competitive lubricants market.
"The business model deployed by the firm led by Daniel Nwokolo is effective and guarantees that its quality products are made readily available and accessible to even the most remote communities at an affordable price, in line with the company's vision of becoming the best choice and leading marketer of engine oil and lubricant products in Nigeria," she said.
Deal will facilitate more production
On her decision to invest in Nigeria, the seasoned pharmaceutical scientist noted that Investing in Nigeria is not just a financial decision; it's about bringing skills, expertise, and resources back to contribute to the advancement of the country.
The Managing Director and Chief Executive Officer of CDN Oil and Lubricants Limited, Daniel Nwokolo, said the multimillion-dollar partnership will facilitate the company's expansion drive to reach the most remote localities in the country with its unique engine oil solutions.
Nwokolo said:
"With the new deal, we have now expanded into the South East, Nigeria, beginning with Imo and Abia States, and renowned pharmaceutical scientist Nonye Onyewuenyi and her team will be the face of that vision to penetrate new markets in that region and ultimately take over Nigeria's engine oil and lubricants market."
NNPC gets new Investor from Asia to invest $7.5bn in Nigeria’s oil, gas
Legit.ng earlier reported that The Nigerian National Petroleum Company Limited (NNPCL) has secured $7.5 billion from Fox Petroleum Group.
The funding will be injected in three years to facilitate the company's operation across the upstream, mainstream, and downstream petroleum sectors.
The Guardian reports that in a statement signed by its representative, Yomi Sola Falana, the company said the development comes from confidence in the present administration.
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Source: Legit.ng
