NIPCO outlines its new strategies for Mobil Oil

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The Group Managing Director, NIPCO Plc, Mr Venkataraman Venkatapathy, has outlined measures being put in place by the majority shareholders of the newly acquired stake in Mobil Oil Nigeria Plc, Daily Trust reports.

The GMD disclosed this on the occasion of the closing gong at the Nigerian Stock Exchange (NSE) on the invitation of the exchange to celebrate the successful completion of the largest acquisition witnessed in the Nigerian downstream sector in Lagos.

Specifically, the deal will ensure increase in the production of Mobil brand of lubes which has remained a cherished brand in the lubricant market and a re-start of its aviation business among others. He said the acquisition, will see a significant expansion in the production of lubes and ensure its availability across the country in a manner not seen before and thus making the company bigger.