- The unveiling ceremony of brand new logos for four of NNPC's downstream subsidiaries held in Abuja on Wednesday
- According to Maikanti Baru, a company’s logo as the visual cornerstone of the its brand identity
- Also, NNPC Retail Limited has been directed to target 30% market share of petroleum products distribution business in the sector by 2020
The Nigerian National Petroleum Corporation’s (NNPC) downstream subsidiary, NNPC Retail Limited, has been directed to target 30% market share of petroleum products distribution business in Nigeria’s downstream petroleum sector by 2020.
NNPC group managing director, Maikanti Baru, handed down the directive on Wednesday, May 23, in Abuja during the unveiling ceremony of brand new logos for four of its downstream subsidiaries: Petroleum Products Marketing Company (PPMC), Nigerian Pipelines and Storage Company (NPSC), NNPC Retail Limited and NNPC Shipping.
Baru explained that the target would enable efficient products distribution and price stability across every nook and cranny of the nation, even as he added that by that time NNPC Retail Ltd would also extend its businesses to other neighbouring states in the west African sub-region.
Currently, the corporation’s downstream company holds about 14% market share of the nation’s products distribution network.
“In making the choice to rebrand these entities, we are taking a huge step towards enhancing our corporate reputation, improved profitability, sustainable growth and most importantly, capture a larger share of the market across the entire downstream value-chain,” Dr. Baru declared.
According to him, re-branding the four companies also prepares them for more competitiveness in the downstream sub-sector, in line with the corporation’s 12 Business Focus Areas (BUFAs).
He informed that the NNPC was committed to ensuring that PPMC as a flagship national products marketing company becomes more profitable and crucial to meeting the nation’s energy demands.
Baru added that NNPC was working assiduously towards bequeathing an NPSC that would brim with revamped infrastructure for efficient storage and distribution of petroleum products across the nation, thereby ensuring supply reliability and energy security.
The NNPC helmsman noted that it was the corporation’s key aspiration to strengthen its shipping outfit to support the downstream growth objectives of its subsidiaries, saying the corporation would not relent until NNPC Shipping becomes the partner of choice in the marine transportation and logistics business.
He said: “The downstream sector is one critical aspect of our business upon which we are readily assessed by majority of our stakeholders nationwide and in the international market environment, making it imperative for the corporation’s long-term survival and image.”
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On the significance of the unveiling of logos ceremony, Baru described a company’s logo as the visual cornerstone of the its brand identity, stressing that the logo brings out a company in a crowd.
“Today, corporations and other multinationals don’t even need their names written on their logos before people understand what they stand for,” Baru stated.
Meanwhile, the NNPC is poised to go paperless in its operations within the shortest possible time. This was disclosed by Baru on Monday, March 19, in Abuja. He made the comment during the inauguration of two committees: The Systems Applications and Products (SAP) Steering Committee (SC) and Group Process Council (GPC).
According to him, the committees would be responsible for a holistic implementation of SAP and replace enterprise resource planning which would serve as enablers for the achievement of the corporation’s success.
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