Chief Executive Officer, CEO of Oando Marketing Limited, Yomi Awobokun, has announced a change of the company’s brand name to OVH Energy Marketing Limited to reflect the recent recapitalisation and corporate restructuring aimed at admitting new shareholders.
He disclosed that the name change was necessitated by the entrance of two investors, Vitol and Helios, world renowned oil trading companies.
He stated: “Notwithstanding, the name change the company will continue to use the existing Oando brand name in conducting its retail activities by virtue of a brand license granted by Oando Plc. It has the capacity to distribute 2 billion litres of fuel annually.”
According to him, this enables OVH Energy to leverage on the brand equity Oando has built over many years and the strength of its new shareholders, arming itself with the impetus required to continue to play a leading role in the downstream sub-sector.
He stated: “OVH Energy is proud to continue offering its customers sustainable high quality products and services including supply reliability, technical expertise, unmatched customer services nationwide and across West African sub-region.
“With this corporate recapitalisation and restructure, the company will continue in its drive to lead other players in the downstream sector in Nigeria and across the sub-region”.