Rainoil, an indigenous oil marketing firm said it has created 130 retail outlets and employed about 2,000 Nigerians in its 25 years of operation as it commits to supporting development in the petroleum downstream sector.
The Group Managing Director of Rainoil Ltd, Dr Gabriel Ogbechie, in a statement yesterday, said the development of the petroleum downstream value chain is critical to Nigeria’s economic growth, especially as it works to increase local gas utilisation.
Dr Ogbechie, while speaking about the company’s 25th year anniversary, said Rainoil Ltd. which started in May 1997 has grown to become a prominent and dominant player, providing employment opportunities for about 2,000 Nigerians.
He said: “In the last 25 years, we have been able to achieve great feats in the downstream sector of the Nigerian oil and gas industry.
“From the retail business, where we now have a presence in 26 states with over 130 stations, to being the only player in the downstream sector with bulk storage facilities strategically located in three key locations in the country,” he explained.
The oil firm head further said that Rainoil Logistics Services Ltd. drives the delivery of energy products to customers nationwide while Rainoil has raised Liquefied Petroleum Gas (LPG) penetration in the country with the launch of a 8,000 metric tonne LPG storage facility in Lagos.
The company also plans to drive energy transition including the federal government’s autogas plan, to reduce Nigeria’s dependence on petrol.
Dr Ogbechie, however, advised the government to remove subsidies on petrol, saying the huge amount spent on subsidies was draining the nation financially.
The Group Executive Director of Rainoil Limited, Mrs Godrey Ogbechie, appreciated the staff members of the company for their support.
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