Despite the challenges faced by manufacturing companies in Nigeria, CDN Oil and Lubricants Limited, Nigeria’s fast-growing engine oil and lubricant company, has unveiled plans to kickstart local production of its engine oil and lubricants in Nigeria.
Chukwuka Nwokolo, Managing Director of CDN Oil and Lubricants Limited, revealed in a press statement that the company has secured a multimillion-naira agreement with a multinational corporation for the domestic manufacturing of its engine oil and lubricant range in Lagos, Nigeria.
Nwokolo highlighted that the decision to initiate local production stemmed from the volatile exchange rate and its consequential impact on importation costs.
By opting for local manufacturing, CDN Oil aims to bolster the production of lubricants for the Nigerian market, providing consumers with a wider array of options for quality engine lubricants within the country.
“Our strategic vision is to dominate Nigeria’s lubricants market, positioning ourselves as the go-to brand for quality and premium engine oil and lubricants,” stated Nwokolo.
He further elaborated, “We are delighted to announce a substantial partnership with a multinational company for the local production of our premium lubricants in Nigeria. This initiative aligns with our commitment to innovate amid fluctuating exchange rates, ensuring accessibility and affordability of our products.”
Nwokolo emphasised that the new investment marks a pivotal milestone in the company’s expansion strategy and expressed optimism about the positive outcomes it will yield for both CDN Oil and Lubricants Limited and its discerning consumers.
“The agreement underscores our dedication to delivering top-tier lubricant solutions that meet global standards while catering to the unique requirements of Nigerian users,” he affirmed.
