Nigeria: Beracha to Develop Fuel Distribution & Petrol Retail Network

The company which has been in operation since 1988  is set to launch a new stage of development with corporate re-branding to showcase the growth and diversification completed to date and in the near future.

In a chat with Energy corespondents at the company’s corporate Headquarters in Lagos recently, the Managing Director, Prince Sola Oluwadare stated that the company is now set to play in the entire spectrum of the downstream marketing business, and as such it has gotten approvals for financial backing from some of the leading Nigerian Banks.

According to him the company which currently operates a 10,000 ton capacity tank farm in Apapa area of Lagos is set to delve into crude oil refining as it as plans are already on the drawing board for the construction of a mini refinery and as well as the construction of ultra-modern petrol stations to be situated in major cities across the country.

“It is our intention to compete effectively with other players in the downstream sector, and by that we need to put our acts in order so that we would not just compete, but compete effectively.  This is expected to go a long way to boost the federal government’s local content policy as well as encourage would-be investors to invest adequately so they could compete vigorously and positively in a sector earlier dominated by multinationals.”

Oluwadare noted that the company is investing to the tune of us$18.5 million dollars on vessels and tankers by the end of the year and that the Nigerian Maritime Administration and Safety Agency (NIMASA) is set to bankroll the project as part of its intention to help willing and thriving Nigerian companies operating in the Maritime sector.

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