SulNOx approved in Nigeria with fuel-saving technology to tackle soaring costs

By Kenneth Oboh

SulNOx Group PLC, the green technology innovator listed on the Aquis Stock Exchange
(SNOX) announced its official entry into the Nigerian market through a strategic partnership aimed at slashing fuel costs and emissions in late 2024.

The company appointed Fuelonomics Hydrocarbons Innovations Limited (FHIL), a
subsidiary of DEER Nigeria, as its only distributor in the country. FHIL, backed by experienced fuel and mining industry professionals, will lead the introduction of SulNOxEco fuel conditioners across key Nigerian industries including transportation, refineries, logistics, and the widespread generator market.

Nigeria, Africa’s fourth-largest economy, continues to show significant growth potential.
According to the International Monetary Fund (IMF), Nigeria’s GDP was forecasted to reach $252 billion in 2024 (Source: IMF).

SulNOx’s entry into Nigeria follows a recent strategic visit by senior management, during which groundwork was laid for the rollout of its products across multiple sectors.

Early adoption trials have already yielded promising results: the Nigerian Independent Petroleum Company (NIPCO) reported approximately 10% fuel savings in its fleet of tankers after using SulNOxEco. NIPCO now plans a phased rollout across its
operations and will make SulNOx products available at its 205 petrol stations
nationwide.

To support this expansion, FHIL has placed an initial order for approximately 4,000 litres
of SulNOxEco fuel conditioner.
Speaking on the partnership, SulNOx CEO Ben Richardson said:

“Nigeria, for decades a major global player in the energy sector, represents a huge
opportunity for SulNOx and a further significant achievement for SulNOx in Africa. Fuel
costs have risen >5x in the last 18 months, and much of the population continues to be
reliant on the 22 million generators for power. We are excited to see significant progress and sales materialising and look forward to collaborating with FHIL’s highly capable and ambitious team in deploying our products to help Nigeria grow by lowering fuel costs whilst simultaneously reducing emissions.”

Abdulmajeed Amussah, Founder and CEO of DEER Nigeria and FHIL’s major shareholder, also expressed confidence in the initiative.

He said: “FHIL is committed to driving sustainability and economic growth through cutting-edge products and services. FHIL will leverage the increasing governmental and corporate focus on sustainability to position SulNOx as a unique solution for fuel efficiency and environmental responsibility in industry. We have allocated significant financial resources to grow the team and have set ambitious targets given the considerable need to reduce fuel costs in Nigeria.”

SulNOx’s move into Nigeria marks a significant step in the company’s wider strategy to expand across Africa and meet the continent’s growing demand for greener, more economical energy solutions.