Hyde Energy Limited, a global energy trading company in the downstream, has intensified efforts with strategic investments and campaigns in its Liquefied Petroleum Gas (LPG) and lubricant businesses aimed to increase availability of the two products in the market.
Founder and Chief Executive Officer of Hyde Energy Limited, Mr. Oladimeji Edwards, disclosed this during a media parley in Lagos, saying the company, which began operation in 2013 had secured significant market share and had made huge investment to expand its footprints.
Currently delivering 150,000 litres of lubricants monthly into the market up from 5000 litres sold in a quarter in the first year, and having achieved first 1 million kilogramme LPG delivery milestone in 2022, Edwards said the company looked to further deepen the penetration of the two products into the market.
According to him, the Hyde Luminor brand, which has always been described as unassailable, has penetrated the hearts of a few Nigerians since its unveiling in 2017.
He said over the next six months, the company would be performing a relaunch of the products with new labels, new bottles, and a new winning strategy coming into Lagos.
He said: “We have not really been popular in Lagos. We have mostly been operating in the Southwest, Abuja, the East and Calabar, which is where we get most of our volumes.
“ But you will be hearing more and more of the Hyde Luminor brand going forward in weeks and months ahead. And we entered into partnership with key people that would help us penetrate the market and work with mechanics and stockists so that they can enjoy and know about us.”
