Firm unveiled a blending facility for lubricants of 150,000 litres

• The firm unveiled a blending facility for lubricants of 150,000 liters
• The Firm seeks auditors’ credibility

Recently, Trustlub Fluid, an indigenous lubricant manufacturer, opened a brand-new, ultra-modern lubricant blending facility with the ability to produce 150,000 liters of blended products per day.

Recent events in Ogun State saw the plant presented at the commission center. The company’s initial move, which it took in 2010 in Port Harcourt with two customers, was discussed at the keynote address by the managing director, AbdulGaffar Babatunde. He explained that the company’s desire for expansion pushed it to relocate operations to Lagos in 2013.

“Our quest to build a sustainable company led us to partner with some friends to establish an independent lube blending plant. It was the recession in 2016 and the scarcity of raw materials that gave the opportunity to re-strategize and into the importation of base oil. In 2020 our focus shifted to the construction of our lube blending plant to meet up with demand for our products and for the company’s strategic growth plan.”

“With a strong presence in the South West and Ilorin we are taking the business a notch higher by inaugurating this blending plant to be able to service demands for our products in other parts of the country.

As an indigenous brand, Babatunde acknowledged that “working in Nigeria is difficult, but we also have a lot of chances.

“Also we have offices in all the areas we are covering throughout the South West and Ilorin and that was because we have low capacity to service other areas of the country, however with our 150,000 blending production facility we have here, we have the capacity to spread across the country. Also in the first quarter of 2023, we are going to be in at least 25 states of Nigeria.”

Meanwhile, the Firm seeks auditors’ credibility, according to Eben Joels, the Lead Partner of Stransact Partners, who has stated that there is a need to increase the audit profession’s credibility and make sure there is enough staff.

Joels made his remarks at a press conference held in Lagos by Stransact Chartered Accountants, the RSM network’s correspondent business and a sizable global network of independent audit, tax, and consulting firms.

A straightforward guide for chartered accountants on adhering to international ethics and best practices in their professional practice, as well as the firm’s audit credibility tenets, were provided during the event.

Continue Reading: Firm seeks auditors’ credibility

Source: punchng