1991
Signed a technical and commercial agreement with Castrol Burma and commenced marketing of Castrol products in Nigeria.
Signed a technical and commercial agreement with Castrol Burma and commenced marketing of Castrol products in Nigeria.
Commissioned our 1st modern retail outlet in Abuja and signed our BPA with PPMC
Secured part funding from IFC to build the first Castrol certified 35,000MT capacity lube blending plant in sub-saharan Africa at Sagamu interchange.
Company became PLC and our shares listed on NSE – first fully home grown publicly quoted integrated petroleum products marketing company.
Between 1998 to 2001 became a recognizable supplier of lubes and fuels with a portfolio of decent and reputable business entities – PHCN, EXXON MOBIL, DANGOTE INDUSTRIES, OBAJANA CEMENT COMPANY, LAFARGE WAPCO, ASHAKA CEMENT COMPANY, GUINNESS, UNILEVER, STRABAG, R.T. BRISCOE, NAFCON, ELIZADE MOTORS, ETERNIT, SCHLUMBERGER, INTELS, PPMC, SHIP & SHORE, WILBROS, DANTATA & SAWOE etc
Became the leading marine lubricants seller in Nigeria
Between 2001 – 2003 attempted acquisition of AP together with Sadiq as co-core investors flopped and threw the company into a financial spin and distress, claiming our major revenue assets (stations) at Abuja and Lagos.
In August 2004, a group of investors approached the Company to acquire a strategic stake of not less than 30%. Subsequently, the new investor was admitted and offered management control.
In January 2005, restructuring and turnaround of the company commenced
In 2006, Eterna won the prestigious Pearl Awards for achieving the Highest Turnover Growth amongst publicly quoted companies.
On the 13th of February 2007, the organisation re-branded to parade a new corporate identity. This also included the unveiling of new logo and lubricants.
In April 2007, the Company raised fresh capital from our shareholders to boost our activities and competitiveness through an issue of 150 million shares of 50 kobo each at N9.95/share (N1.495b). The issue was 230% subscribed.
In January 2008 the Standards Organisation of Nigeria (SON) acknowledged and certified Eterna’s Quality Management System as scrupulously meeting the requirements of the NIS ISO 9001: 2000 standard.
In 2008, we acquired a 30,000 metric tonnes capacity storage tank farm at Ibafon, Apapa for petroleum products.
Also in 2008, we acquired an Aviation Tank Farm in Abuja.
Our Company is the sole licensee for the manufacturing and distribution of BP-Castrol Lubricants in Nigeria.
In 2017 we successfully acquired the sole license to distribute and blend Castrol’s brand of Automotive and Industrial Lubricants in Nigeria.
For the first time since the Company’s inception the Company declared a dividend in 2015.
From then, the Company has embarked on a continuous dividend payment trajectory consecutively for the last 3 years.