CONOIL Plc has  reiterated its resolve to maintain a stronger financial position and creating higher values for its shareholders. At its 48th  Annual General Meeting, AGM, held in Uyo, Akwa Ibom State, the company assured its shareholders that conscious efforts will be directed at achieving better execution of value-added products and services especially in the areas of marketing and customer management. While noting that 2018 would be tough given the current state of the nation’s economy, it however, expressed optimism that it would strive hard to maintain profitability.

Meanwhile, the shareholders at the AGM ratified dividend cash payment of N1.4 billion, which translates to 200kobo for every 50kobo share held. The company promised to explore opportunities in the coming years to deliver solid financial results and increase competitive returns on its shares.

Dr. Mike Adenuja Jnr.

Chairman, Conoil Plc, Dr. Mike Adenuga (jnr), in his statement stated that the company was fully charged to consolidate its competitiveness in the different segments of its business by exploring and developing emerging markets while holding its grounds in areas where it has competitive advantage. Towards this goal, the company announced the introduction into the market, another brand of quality engine oil, Conoil Crown Heavy Duty Oil manufactured specially for the mass market of car owners.

“With the introduction of this product”, Dr Adenuga said : “we are poised to fill the yawning void in the industry as a pragmatic marketer of first choice”.