Obateru Akinruntan's Obat Oil Plans 200-Station Expansion Drive in Nigeria

Obateru Akinruntan, the monarch of Ugbo Kingdom, has spearheaded Obat Oil's expansion since its establishment in 1981. The company, led by his son Akinfemiwa Akinruntan, aims to open 200 new retail stations nationwide.

With a 65 million-liter tank farm and a 160-meter jetty in Apapa, Obat Oil is strategically positioned for growth. The company is investing in LPG and natural gas infrastructure, with commercial operations targeted to begin in Ondo and Ogun State by 2026.

By implementing an enterprise digital system and focusing on cleaner energy solutions, Obat Oil is adapting to market shifts, including the removal of subsidies and competition from Dangote Refinery. This expansion drive reflects the company's blend of tradition and modernity, aiming to establish a nationwide network mirroring Nigeria's entrepreneurial spirit.