The Group Managing Director of Masters Energy Group, Mrs Patience Dappa, has disclosed that the firm plans to increase its Liquefied Petroleum Gas (LPG) outlets by 50.
According to The Punch, Dappa made this known in Lagos recently at the Masters Energy Group 2024 Senior Leadership Strategy Retreat, which had the theme, “Innovation, Exponential Revenue Growth by Cost Management and New Product Introduction”.
She reportedly said the firm inaugurated a 40,000 CM3 LPG storage facility in Port Harcourt last year, which would be executed in phases, with the initial phase handling 20,000 CM3 of LPG to be completed next year.
She expressed the company’s dedication to enhancing its footprint in the Nigerian market through innovation, partnerships, diversification, and increased investments.
According to the GMD, the essence of the retreat was for senior and top-level workers at the leadership cadre to deliberate and strategically decide on innovations and initiatives the organisation were implementing to enhance its business operations.
Dappa confirmed that the company had successfully obtained an off-take license from Dangote Refinery.
She pointed out that the granted license enables the company to officially procure all products directly from the refinery, thereby optimising the company’s supply chain and solidifying its standing in the market.
“Teaming up with Dangote Refinery is set to improve our product procurement efficiency and reliability, positively impacting our operations,” she added.
Also speaking, the Group Executive Director, Operations, Masters Energy Group, Mr Felix Eribo, said, “The daily demand for the company’s products from NNPC Retail Limited is steadily growing, and they are extending their presence to all corners of the country.
“The company aims to expand its market share in the LPG sector this year by introducing an additional 19 skid plants into the pool.”
“As a major player in downstream oil and gas, we swiftly secured approval to participate in the Dangote Refinery. Our established infrastructure facilitated an easy process, culminating in the acquisition of the off-take license for all refinery products,” he said.
