Eterna PLC, an integrated energy provider, has posted a gross profit of N4.1 billion for the half year ended June 30, 2022.
The new Managing Director/Chief Executive Director of Eterna PLC, Mr Benjamin Nwaezeigwe, stated this at a briefing in Lagos yesterday.
He said the figure which was 57.9 per cent higher than the N2.6bn gross profit recorded in the corresponding period of 2021 was achieved on the back of increased operating activities, improved efficiency, staff dedication and a new energy in the organisation brought about by the new leadership vision.
He also said the firm was investing in the deployment of Liquefied Petroleum Gas (LPG) skids across some of its retail outlets in the country.
“The industry is moving towards CNG and LPG and as a company, we have started positioning ourselves for that.
“We are deploying skids in our existing retail outlets across the country and we also hope to go into LPG storage in the near future.’’
He said marketers were dealing with poor access to foreign exchange, high interest rates, sourcing products from NNPC Ltd, and logistic issues compounded by the Russia/Ukraine conflict.
Nwaezeigwe called for full deregulation to attract more investments and urged the government to lower requirements for opening modular refineries.
Also speaking, the Executive Director, Corporate Services, Eterna Plc, Mrs Phoebean Ifeadi, said the company had invested over N20 million in the past two years in donations and Corporate Social Responsibility (CSR) activities.
The Chief Financial Officer of Eterna Plc, Mr Abudukerimu Sule, said Nigeria should focus on achieving energy security.
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