Friday, 16 October 2015

OANDO BURIES $1 BILLION IN APAPA FACILITIES EXPANSION

Tectono Business Review gathered that Oando Marketing has invested a staggering sum of $1 billion to expand its facilities in Apapa axis of Lagos State in order to meet the needs of the energy market.

This development was revealed by the Chief Executive Officer of Oando Marketing, Mr. Yomi Awobokun, during the official commissioning of the marshalling yard (phase II) and a 250 meter length Sapara street linking its terminal base in Apapa. According to him, Oando Marketing would continue to invest in community-based projects in the next two years.

He made it clear that the Sapara street was the second phase of the project, while the first phase of 400 meters length has been earlier commissioned in that area, adding that the road project, which formed part of the company’s Corporate Social Responsibility (CSR) would have meaningful impact on the neighbouring residents and companies.

In Mr. Awobokun’s own words: “The base had been cited here since about 50 years ago, before the erection of residential buildings. Now that the Apapa area is well developed, the roads are becoming busier and the road infrastructures are decaying. We are proud that we are leading the quest to restore the glory of Apapa. We have invested close to $1 billion in the last 12 months. The road and the marshaling yard cost over $3 million and we will continue to invest in the next two years,”

According to the Oando Marketing boss, his team is working tirelessly to complete and commission the Phase I of the marshaling yard in the next three months. He stated that the two facilities have a combined capacity to accommodate about 90 trucks at completion.

He further said that the company was working on a new petroleum jetty in Apapa and that was expected to be commissioned in the next three months, stressing that the project would ease product delivery, create more jobs and improve the welfare of the host community.

In her own speech, the Chief Operating Officer of Oando Marketing, Mrs. Olabosi Williams, stated that the new jetty was aimed at decongesting the NOJ jetty in Apapa and enhance product distribution in the country and that facility would have capacity to accommodate a 30,000 metric tonnes mother vessel and reduce demurrage incurred due to congestion.