ENYO boss commends FG on effective petroleum distribution

LAGOS, Nigeria – Mr Abayomi Awobokun, the Chief Executive Officer of ENYO Retail and Supplies Ltd., has commended the Federal Government on its effective petroleum distribution chain across the country in the last two years. Awobokun gave the commendation at the official commissioning of the ENYO `Olowo Eko’ retail outlet station at Ikate Bus stop, Lekki, Lagos.

According to him, the company commends the government for what it has done so far in the supply chain network and in ensuring there is no shortage.

“We have not experienced any products shortage in the last two years and our affiliated company, Folawiyo Energy Terminals, is one of the biggest in the country. This has been very efficient and also able to cater to the industry demands in the retail market. Government must be commended on how it manages the supply distribution of the products, while also continuing to explore  deregulation.

“I don’t think deregulation should be rushed; I think it should be a journey that must be embarked upon carefully and intelligently.So, I am very satisfied with the progress so far made. We must continue to move wisely and gradually towards deregulation,’’ he said.

Awobokun said that at ENYO Retail and Supplies Ltd., the company’s goal is to focus on expanding its distribution capacity to more states in the country and to continue to deploy affordable technology to bring consistent value to its customers.

“We are investing profoundly in improving the customer experience at all our points of sales. Our primary determination is to deepen the customer services experience in the fuels retailing industry with the assurance to all customers that at our points of sales and filling stations, a litre is a litre.

“We seek to be the most trusted brand in the Nigerian market. We are consistently investing in capacity development, sales infrastructure and in our supply value chain to achieve this goal. As part of its future plans, Enyo Retail and Supplies aims to increase its footprints with additional ultra-modern filling stations.

“This will include a lifestyle space ranging from coffee shops and other amenities which will showcase the customer-centric nature of the organisation,’’ he said.

Awobokun said that about N8 billion had been invested in the downstream retail business with the aim of expanding the company’s market share in the downstream sub-sector of the oil and gas sector in the country. He, however, reiterated the company’s commitment to Nigeria and outlined its achievements in less than two years of operation in the country.

“We are about 18 months old. Our major investor is Folawiyo Energy and we have invested over N8 billion to build 56 retail stations across Nigeria. We have 17 filling stations that are under construction and we are placing due importance on technology-driven innovations because we are in a competitive environment.

“We also are trying to change the narrative and focus on training and career growth. We are set to be a major player in the near future because right now, nothing much is happening in the sector. Since we are focusing only on retail business, our business model is based on the available margin,’’ he said.

The ENYO boss said the company’s acquisitions of new retail stations was part of its expansion plans to provide Nigerians with trusted fuel and other quality petroleum products and services.

“We are entering into contractual agreements with key dealers across the country to fast-track our rapid acquisition of stations. We believe that having stations at strategic locations will help us drive our commitment to the provision of quality fuel and petroleum products.” he added.

Mr Tunde Folawiyo, Chairman, Folawiyo Energy, said ENYO was targeting 80 retail outlets before the end of 2019, adding that the company had presence in all the states of the federation. Folawiyo, who is also the Chairman of ENYO Retail Company, said that efforts were ongoing to hit 120 retail outlets by 2020.

He said that essence of the gathering was to appreciate the Oba of Lagos and other stakeholders who had supported the company over the years.
Oba Rilwan Akiolu, the Oba of Lagos, lauded ENYO’s investment in the downstream sector of the petroleum industry, while urging the management to ensure practical objectivity and transparency toward effective customer services. Akiolu, however, urged land owners to invest meaningfully on their lands for the future development of their families and the growth of Lagos State.

“We are grateful to God that today, we’re among those who are commissioning ENYO. The Olowo Eko station has been part of my dream to ensure service to humanity within this area.In years to come, investment made on this axis of Lagos will be of great investment and resourcefulness to the land owners,’’ he added.