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Experts Chart Roadmap To Advance Nigeria’s Lubricant Market

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Stakeholders have shared insights on global trends as well as practical suggestions to improve the state of the industry, as part of efforts to address the influence of technological developments on the Nigerian lubricants industry,

They had a robust discussion on the issue at the virtual 2022 Nigeria edition of the International Lubricants Conference (ILC).

The ILC is a bi-annual conference organized to enlighten relevant stakeholders on key industry developments and advancements while connecting manufacturers with key stakeholders.

Although Nigeria’s Lubricant market currently accounts for about 20 per cent of Africa’s total lubricant demand, the industry is still in its infancy they observed.

They were of the opinion that adoption of innovative technological advancements, favorable regulations, increased stakeholder collaborations, and consumer education will boost performance strengthening the industry.

The conference themed ‘Technology and its application to the lubricants industry,’ featured panelists and speakers who shared insights on technological advancements in the lubricants industry, the influence of digital technology on the lubricant industry value chain, global regulatory changes as well as an analysis of the raw material supply chain and logistics in Nigeria.

Commenting on the impact of the conference, the keynote speaker and managing director of Lubcon Limited, Mr. Taiye Williams commended the organisers, noting how insights shared will affect the decisions of stakeholders.

He further commented on the technology and its application to the lubricants Industry.

To him, “as manufacturers push the boundaries of engine development, the pursuit of performance has placed new demands on the lubricants required by modern machines. With the application of technology, the lubricant industry will produce top quality products, build the capacity of the industry and increase output for Nigeria to remain relevant in the lubricant market.”

Speaking at the conference, the chief marketing officer, OVH Energy Marketing, Mrs. Lilian Ikokwu, spoke on Technology as a tool to curb Proliferation of Substandard Lubricants in Nigeria.

“75 per cent of the lubricants consumed in this country is produced locally which is encouraging. We do hope that in very few years we would do 100 percent of what we produce. Out of the 25 percent being imported, 64 percent of that volume is substandard. In total, we have 70 percent of Total Lubes consumed in Nigeria being substandard,” he added.

The general manager, Operations for Pacegate Limited,Mr. Godwin Ejeh,  who spoke on Evolve, Adipro’s CSR said: “the vision of Evolve is to educate the girl child by providing school supplies, thereby giving back to the community. This initiative was birthed from two of the studies ranked 6th (educating women) and 7th (Family Planning) out of 100 in making an impact on reducing the CO2 emissions in the atmosphere.”

This edition of ILC also recognised outstanding industry players with the presentation of awards.

The 2022 ILC Prime Player award was presented to Ammasco International Limited for the second time in a row; TotalEnergies also received the 2022 ILC Impact Award; Bestaf Trading was awarded the 2022 ILC Best Production Technology while Seahorse Lubricants was awarded the 2022 ILC Quality award.

 

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