In keeping with its commitment to advancing Nigeria’s lubricant market, OVH Energy Marketing joined industry experts to discuss the application of technological developments to the industry at the 2022 International Lubricant Conference, which was themed “Technology and its application to the lubricants industry.”
Lilian Ikokwu, chief marketing officer of OVH Energy Marketing Limited, was one of the keynote speakers at the two-day conference. During the session, she discussed the causes and effects of the spread of substandard lubricants in Nigeria, as well as the solutions and the critical role of technological tools in their abolition.
Lilian praised the conference organizers and sponsors for their efforts in bringing industry stakeholders together to share ideas on how to improve the lubricant sector.
“The Nigeria Lubricant sector is a growing industry with enormous opportunity,” she said, “but existing threats to its growth must be discussed and addressed.”
She also discussed the impact of Covid19 on the Lubricant sector, emphasizing the importance of technology in providing effective service delivery and improved channels of interaction between customers and partners.
Read also: Oil majors’ first quarter profits boom on rising commodity prices
“Despite being in the development stage, the Nigerian Lubricant market accounts for about 20percent of Africa’s total lubricant demand,” Lilian said of the proliferation of substandard lubricants in Nigeria.”
“However, the threat of poor lubricant keeps it from reaching its full potential. To eradicate the threat, all stakeholders, including the government, security operatives, manufacturers, and end-users, must address the root causes.”
“Consumers are the last line and most important leg of the value chain; thus, there is a need to educate them on product knowledge and application,” she added. We directly impact the purchase of such products by arming them with the knowledge to identify counterfeit products, further reducing the threat of substandard lubricants.”
‘With the adoption of technological advancements in the lubricants industry, such as QR coding technology, product app technology, and social awareness, as well as future interventions like biomarker fingerprinting and case base classifiers, the Nigerian lubricant industry can reach its full potential in a short period,” she added.
Other conference speakers emphasized the significance and influence of digital technology in the advancement of the lubricants market in Nigeria and Africa as a whole. OVH Energy Marketing is still committed to manufacturing high-quality lubricant products in Nigeria.
