Joint Venture8 Jul 2025, 10:01 pm
GP Petroleums Limited Expands International Footprint with Delta Fuel and Lubricants Nigeria Limited
AI Summary
GP Petroleums Limited has entered into a Manufacturing and Marketing Agreement with Delta Fuel and Lubricants Nigeria Limited, a leading lubricant manufacturer and marketer in Nigeria. The agreement, effective from July 01, 2025, allows Delta to manufacture, supply, and market products under the brand name 'IPOL' in Nigeria and other West-African markets. This strategic collaboration aims to expand GP Petroleums' international presence and enhance brand visibility in the West African region. Delta will pay a royalty fee of 3% of the selling value (EVAT) for the first 2 years and thereafter 3% of the selling value (EVAT) along with a minimum guarantee of total royalty of USD 30,000/- per year on all IPOL brand sales.
Key Highlights
- GP Petroleums Limited has entered into a Manufacturing and Marketing Agreement with Delta Fuel and Lubricants Nigeria Limited
- Delta will manufacture, supply, and market products under the brand name 'IPOL' in Nigeria and other West-African markets
- The agreement is effective from July 01, 2025
- Delta will pay a royalty fee of 3% of the selling value (EVAT) for the first 2 years and thereafter 3% of the selling value (EVAT) along with a minimum guarantee of total royalty of USD 30,000/- per year on all IPOL brand sales
- This strategic collaboration aims to expand GP Petroleums' international presence and enhance brand visibility in the West African region