In a bid to advance Nigeria’s lubricant market, OVH Energy Marketing has joined industry experts to discuss the application of technological developments to the industry in order to help eradicate substandard lubricants.
The event took place at the 2022 edition of the International Lubricant Conference with the theme, “Technology and its application to the lubricants industry”.
The Chief Marketing Officer of OVH Energy Marketing Limited, Lilian Ikokwu, discussed the causes and effects of the proliferation of substandard lubricants in Nigeria, the solutions, and the indispensable role of technological tools in its eradication.
She said, “Nigeria’s lubricant sector is a growing industry with huge opportunity, but existing threats to its growth must be discussed and addressed.”
She pointed out the impact of COVID-19 on the lubricant sector, highlighting that technology played a significant role in providing effective service delivery and improved channels of interaction between customers and partners.
Commenting on the proliferation of substandard lubricants in Nigeria, Ikokwu said, “Despite being in the development stage, the Nigerian lubricant market accounts for about 20 per cent of Africa’s total lubricant demand.
“However, the menace of substandard lubricant prevents it from reaching its full potential. Therefore, the root causes must be addressed by all stakeholders such as the government, security operatives, manufacturers, and end-users to eradicate the menace.”
She proffered solutions to curb the proliferation of substandard lubricants in Nigeria.
“Consumers are the last line and most important leg of the value chain; hence there is a need to enlighten them on the product knowledge and application,” Ikokwu stated.
She added, “By empowering them with the knowledge to identify counterfeit products, we directly impact the purchase of such products, further curbing the menace of substandard lubricants.”