Lilian Ikokwu, Head Lubes of OVH Energy in a recent interview with Business Day has explained that it is making moves to expand its market share beyond the shores of Nigeria.
On the expansion programme for the firm’s product she said; “This year alone we have installed two additional products lines in our Apapa lubricant plant, the first-of-its-kind in Africa, to support the drive to meet local demand and opportunity to export to the ECOWAS region. Expansion is key in growing our business.”
Asked whether the company is working towards increasing its market share in the West African sub region, she said; “Definitely, taking a share of the market is something we are very big on. We had stepped back some time ago when we went back to the basics, when we started with the packaging. It was clear what our strategy was. It was to reposition and grow our market share and we have seen steady growth in the past two years. The opportunity to export to West Africa sub-region is there and we are tapping into it. We already have a subsidiary in Togo that markets our lubricants brand in that region. But we are now going to expand that by reaching out to other countries along the ECOWAS corridor and we are going as far as Niger and Chad. We plan to increase our market share locally and in West Africa’s sub-region.”
On the company’s current market share, she said; “If you look among the major marketers, we used to have seven per cent share. This was in 2016. But in the last two years we have grown to about nine per cent.”