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Elvis okonji

Expert urges strengthening of core competence, strategic reserves


An energy and coordination master, Elvis Chukwudi Okonji, has encouraged parts in the energy and coordination industry to develop their centre skill, assemble key stores, survey their money procedure, expand and receive circumstance examination and danger the executives for reasonable development.

He expressed this while talking with columnists in Lagos. He demanded that industry players expected to conceive alterations to authoritative provisions identifying with endemics and pandemics, adding that the business stayed both work and capital-serious.


Okonji, who is additionally the pioneer Managing Director and Chief Executive Officer of GPC Energy and Logistics Limited, said: "Coronavirus brought to the front the danger of pandemics and nature driving the prompt closure of organizations.

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"Significantly hit were the mixed refreshments and development materials fragments, given the immense commitments related with rock-solid truck haulage, key money stores to cover at least six to year activities is ideal for supporting tasks well into an unexpected event.


"The operability of the stores will be player-explicit remembering the negative effect of twofold digit expansion rates on future worth."

energy and logistics expert, Elvis Chukwudi Okonji

He contended that the COVID-19 pandemic additionally presented the need to situate coordination organizations for more modern wellsprings of financing.


"We visualize a continuous switch in the business' hefty dependence on bank financing to value financing to support long haul loan cost and unfamiliar trade chances.


"Likewise, business papers might be tried to connect momentary financing needs; value raising will improve influence inside the business and position it for expanded interest," he added.



He said an industry player as of late raised N12 billion through the security market, which Infra Credit ensured. This was a pointer to the expanding level of complexity of transport organizations.


"At GPC, we are talking about an N50 billion security program to encourage our quickly expanding business, tenors of more than seven years appropriate for long haul financing and devaluation of resources are more reasonable on the lookout.


"The business's basic assets are trucks, overwhelmingly imported from Europe and China," he said.


One hour ago, Stakeholders sought inclusive regulation to boost voluntary compliance.

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