Group Executive Director, Finance, 11Plc (Formerly Mobil Oil Nigeria plc), Ramesh Virwani; Acting Managing Director, Osagie Ogedegbe; Non- Executive Director, Alhaji Abdulkadir Aminu; Company Secretary, Samuel Eme Ozeh; Non-Executive Director, Chief Paul Obi, SAN; and Independent Non-Executive Director, Nurudeen Abubakar during the company’s 48h Annual General Meeting held at Abuja Continental Hotels, FCT, Abuja.
11 Plc, formerly Mobil Oil Nigeria Plc, is expanding its footprint in white oil, lubes, and Compressed Natural gas (CNG) as part of its growth strategy
The Chairman ,11Plc Ramesh Kansagra, disclosed this in his address to shareholders at the 48th Annual General Meeting, held at Abuja Continental hotel and chaired on his behalf by Non-Executive Director, Alhaji Abdulkadir Aminu.
He stressed that the company’s white oil station network is a key component of its operations, through which the company hopes to strengthen its presence in the country.
Kansagra noted that the company’s lubes business would continuously leverage on its strong brand reputation and distribution network to drive growth in this segment.
He highlighted the import of CNG in driving sustainable growth and reducing the country’s dependence on fossil fuels.
He was upbeat company’s hospitality division with Lagos Continental Hotel, poised to set industry benchmarks for excellence, adding that its performance is a reflection of the company’s commitment to delivering exceptional service and creating value for its valued guests
11 Plc’s strong balance sheet and disciplined financial management enables it to pursue strategic growth opportunities and deliver value to shareholders.
He said the company’s commitment to talent development and customer satisfaction underpins its success across various business lines.
He expressed optimism about the company’s future prospects, citing the increasing demand for energy and the government’s commitment to creating a conducive business environment.
“We are confident that our strategic initiatives will drive sustainable growth and long-term value creation,” he said.
According to him, the company’s focus on operational efficiency and customer satisfaction is expected to drive growth in its white oil, lubes, and CNG businesses.
11 Plc, he said, is well-positioned to capitalize on the opportunities presented by the evolving energy sector.
“The company’s strong brand reputation, distribution network, and commitment to customer satisfaction position it for long-term success. 11 Plc is confident that its strategic initiatives will enable it to navigate uncertainties and achieve its goals,” Kansagra maintained.
He noted that the company’s performance in various business lines is a testament to its ability to adapt to changing market conditions.
