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About Us
Key Milestones
  • 1991 - Signed a technical and commercial agreement with Castrol Burma and commenced marketing of Castrol products in Nigeria.
  • 1995 - Commissioned its 1st modern retail outlet in Abuja and signed its BPA with PPMC
  • 1996 - Secured part funding from IFC to build the first Castrol certified 35,000MT capacity lube blending plant in sub-saharan Africa at Sagamu interchange.
  • 1998 - Company became PLC and its shares listed on NSE - first fully home grown publicly quoted integrated petroleum products marketing company
  • Between 1998 ¡V 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
  • 2001 - 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 its 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 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 its shareholders to boost its 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, acquired a 30,000 metric tonnes capacity storage tank farm at Ibafon, Apapa for petroleum products.
  • Also in 2008, acquired an Aviation Tank Farm in Abuja.
 
 
 
 
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