11 Plc drives growth with strong revenue performance and CNG infrastructure expansion
11 Plc has demonstrated its resilience and adaptability in the Nigerian hydrocarbon industry, with a strong revenue performance and significant contributions to gas utilization.
Chairman ,11plc , Ramesh Kansagra, who disclosed this in an address at the company’s 47th Annual General Meeting held at Abuja Continental Hotel said the organization has made substantial investments in infrastructure development, including upgrading its storage facilities and expanding its distribution network.
Represented by Non – Executive Director, Alhaji Abdulkadir Aminu who chaired the statutory event ,Ramesh said the company has continued to drives it’s growth trajectory in the downstream sector
“The company’s commitment to sustainability is evident in its expanded product portfolio and enhanced distribution network, which have driven modest revenue growth. 11 Plc’s introduction of several prime stations in Lagos and Oyo state as compressed natural gas outlets supports President Bola Tinubu’s Renewed Hope initiative for viable alternatives to traditional fuels.”
” The company’s increased LPG marketing skid presence nationwide has provided meaningful access to cooking gas, a clean fuel for domestic cooking. This initiative has not only enhanced the lives of customers but also contributed to the reduction of greenhouse gas emissions.”he noted
Accordingly to him , 11 Plc’s focus on delivering exceptional customer service, quality products, and operational excellence has enabled it to maintain a strong market presence and drive growth.
The company’s Board of Directors has recommended a dividend payout of N3,335,506,164.25, equivalent to 925kobo per ordinary share, which was unanimously approved by the shareholders
He said the company’s commitment to sustainability and growth is a testament to its dedication to delivering value to its shareholders and contributing positively to the communities in which it operates.
Said he : With its strategic initiatives, 11 Plc is well-positioned to maintain its growth momentum and continue delivering outstanding customer service.
Ramesh noted that 11plc pedigree and reputation in the sector have been noteworthy in the rising profile of the company in it’s over four decades of operations .
Photo caption:
L- R : COO / Executive Director ,11plc ( formerly Mobil Oil of Nigeria Plc ) ,Ramesh Virwani ; Company Secretary , Managing Director / CEO ,Tunji Oyebanji ; Non – Executive Director, Alhaji Abdulkadir Aminu who chaired on behalf of Board Chairman,Ramesh Kansagra ; Company Secretary, Chris – Olumayowa Meseko; Non – Executive Director, Paul Obi (SAN); and Independent Non- Executive Director, Nurudeen Abubakar at the company’s 47th Annual General Meeting held at Abuja Continental Hotel, FCT, Abuja .
