31 January 2013, Sweetcrude, Lagos – Conoil, Nigeria’s leading petroleum product manufacturing company’s drive to export its lubricant brands to the West coast, got a major boost recently when the company was admitted into the ECOWAS Trade Liberalization Scheme (ETLS).
Its admission into the scheme would afford the company the opportunity to export its high grade, proudly made in Nigeria motor engine oils to established markets in the sub-region duty free.
The scheme was adopted by ECOWAS member states to eliminate trade barriers and facilitate trade integration, improve the foreign exchange earnings of companies of member states and create more jobs in their respective countries.
It would be recalled that the Nigeria Export Promotion Council (NEPC) had earlier certified the quality of Conoil lubricants as export compliant.
A statement by the company proffered that the ETLS admission qualified Conoil to participate in ECOWAS Export Expansion Grant Scheme (EEG) and enjoy at least 30 percent rebate on its yearly export earnings.
Conoil’s foray into the export market came from an exhaustive business research, which revealed a viable market for the company’s brand of engine oils in the sub-region, the statement added.
Its flagship lubricant brands, Quatro and Golden Super Motor Oil, hold top positions in the Nigerian market and are adjudged the brand of choice.
Quatro, the company’s premium grade, which has the American Petroleum Institute’s (API) seal of excellence, earned the prestigious “Lubricant of the Year” award for several years in Nigeria.
Quatro contains highly refined paraffin base oils and hi-tech additives that ensure minimal fuel consumption and protect car engine from rust.
The Golden Super Motor oil on the other hand, has anti-wear/high detergency and oxidation resistance additives that ensure a longer engine lifespan.
Also available are wide range of industrial lubricants for applications in manufacturing, textile, cement, breweries, oil exploration and producing companies, and transmission oils for the gear system of vehicles.
The company currently controls about 30 percent of the nation’s lubricant market and has also committed substantial investments to upgrade and expand its lubricant blending plants at its depots at Apapa, Lagos, Port Harcourt and Kano with a view to meeting and surpassing customers’ ever increasing demand for its quality engine oil.