Oando invests $1 billion on facility expansion

14 October 2015, Lagos – In its quest to meet the needs of the energy market, Oando Marketing has invested a whooping sum of $1 billion to expand its facilities in Apapa axis of Lagos State.

OandoThe Chief Executive Officer, Oando Marketing, Yomi Awobokun, who disclosed this during the official commissioning of the marshalling yard (phase II) and a 250 meter length Sapara street linking its terminal base in Apapa, said the company will continue to invest in community-based projects in the next two years.

He said the Sapara street was the second phase of the project, while the first phase of 400 meters length has been earlier commissioned in that area.

According to him, the road project, which formed part of the company’s Corporate Social Responsibility (CSR) would have meaningful impact on the neighbouring residents and companies.

He said: “The base had been cited here since about 50 years ago, before the erection of residential buildings, now that the Apapa area is well developed, the roads are becoming more busy and the road infrastructure are decaying. We are proud that we are leading the quest to restore the glory of Apapa. We have invested close to $1 billion in the last 12 months. The road and the marshalling yard cost over $3 million and we will continue to invest in the next two years,”

Awobokun disclosed that the company has is working relentlessly to complete and commission the Phase I of the marshalling yard in the next three months and the two facilities has a combined capacity to accommodate about 90 trucks at completion.

The Oando boss also disclosed that the company is working on a new petroleum jetty in Apapa that is expected to be commissioned in the next three months.

This, project, according to him, would ease product delivery; create more jobs and improve the welfare of the host community.
He further noted that the company trains over 2000 people in the community yearly, “and will continue to give back to the government in taxes and to the community in welfare,”

The Chief Operating Officer, Oando Marketing, Mrs. Olabosi Williams, said the new jetty is aimed at decongesting the NOJ jetty in Apapa and enhance product distribution in the country.
She stated that facility would have capacity to accommodate a 30,000 metric tonnes mother vessel and reduce demurrage incurred due to congestion.

  • The Guardian
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