Nigerian-based lubricant oils manufacturer and distributor, Eterna PLC has secured the exclusive rights to blend and distribute Castrol Automobile and Industrial lubricants at its plant located at Sagamu, Ogun State.
The company disclosed this at a press conference on Thursday, 5 October.
Eterna’s portfolio of Castrol Automobile lubricants comprises of four products selected to serve a wide spectrum of Nigerian consumers. The products include Castrol GTX Essential, Castrol MAGNETEC, Castrol EDGE and entry-level engine oil Castrol Motor Oil.
The Castrol MAGNETEC prevents oil drying up from the engine. Castrol EDGE provides motor strength for engines that work harder due to higher engine pressures. The Castrol GTX Essential protects vehicles from sludge that originates from severe driving conditions. It is the latest addition to the Castrol GTX range of products.
“I am proud to announce that Castrol GTX Essential was produced for the first time in the world at our plant in Sagamu this August,” said Mahmud Tukur, managing director, Eterna Plc. “This is a clear demonstration of the confidence reposed in our manufacturing capabilities by Castrol.”
He stated that the production of Castrol GTX Essential followed response to specific market requirements in Nigeria and Africa as well as other regions with similar climatic conditions. It also signifies how globally developed technology is brought to bear in ways that address local conditions, meet engine manufacturers’ specifications whilst remaining affordable and cost effective.
“Between 2009 and 2015 post the acquisition of Castrol by BP, Eterna was majorly active in the marine and sectors, providing premium lubricants to tanker vessels, supply vessels, port operators, FPSOs and drilling rigs.
“In 2015, we commenced further discussions with Castrol to extend our licensing rights to cover the automotive and industrial sectors, culminating in the signing of a sole distributorship agreement in February 2017 for the automotive and industrial range of lubricants for the Nigerian market,” Tukur said.
The official entry of the range of Castrol products will kick off with a launch on Friday, 6 October 2017. Already Eterna marketing teams have been engaging local mechanics with a series of mechanic road-shows designed to familiarise them with the Castrol products.
Eterna Plc also plans to roll out sales points nationwide, appointing distributors in strategic markets, partnering with independent retailers and constructing mega stations in cities such as Abuja and Calabar.
“Eterna Plc is the first fully indigenous oil marketing company to be listed on the floor of the Nigeria Stock Exchange (NSE). Despite all the challenges it has faced, the company has come out stronger. Its balance sheet is very healthy and we are now poised to deliver exception value to our shareholders, staff, distributors and partners,” Tukur said.
