To promote Nigeria’s local content drive in oil and gas sector, indigenous player, Eterna Oil Plc, said it has so far invested over N3 billion in the expansion and operation of its lubricant oil plants.
Speaking to the media in Lagos during the official launch of Castrol lubricant oil, ‘Castrol GTX Essential,’ which is a Made-in-Nigeria product, the Managing Director, Mr. Mahmud Tukur, the investment was meant to boost production of Castrol Oil variants, which were until now being imported.
According to him, Castrol GTX Essential is the latest addition to the Castrol GTX family and was produced for the first time worldwide at the Sagamu plant in August, developed in response to specific market requirements in Nigeria/Africa, and other regions with similar climatic conditions.
Disclosing that the company has always aimed to own its blending facility, Tukur said that Eterna was importing and distributing Castrol lubricants before setting up a robust marketing structure with increased market sales, which culminated in the local manufacture of the lubricants through a third-party facility on an interim basis.
However, the dream became reality when the company secured a $940,000 loan from the International Finance Corporation (IFC) in 1995 to construct what eventually became one of the best and most modern lubricant manufacturing plants in Africa, he stated.
According to him, “Castrol designed the plant and provided the required technical support during the construction, ensuring that the plant met global standards.
“Eterna currently operates a 15,000mt-capacity state-of-the-art lubricant manufacturing plant, fully owned through its subsidiary, Eterna Industries Limited, which is one of the only three Castrol-accredited blending plants in Africa.
“The company has invested over N3 billion to further expand lubricant oil plants operations in Nigeria to promote local content initiative.”
He disclosed that the plant is equipped with a state-of-the-art laboratory to support blending activities, as well as used oil analysis services for customers, and can blend up to 45,000mt if it runs three full shifts.