C &I Leasing Plc has reiterated plans to embark on a business expansion drive in the near future to increase market share and ensure enhanced returns to shareholders.
The group managing director/chief executive officer of C&I Leasing, Mr Lenin Ugoji, who stated this at the company’s 31st annual general meeting for the year ended December 31, 2021 at the weekend in Lagos, noted that, the business expansion would come in the form of fleet management business due to the inherent opportunities in the fleet management space and in the marine business.
He said, the company would likely acquire vessels for dry product movement in the near future, saying, “we are looking primarily at operational efficiency because even before you grow a business, you must be operationally fit.
“Part of what the new management wants to do is to bring about a lot more efficiency to the current operations, while we look at business expansion in a near future.
“Business expansion will come in the form of fleet management business because we feel that there are many opportunities in that space and in the marine business too but more in the non-oil sector so that we can diversify the risk of oil and gas. Therefore, we may look at acquiring vessels in this area for dry product movement.”
Ugoji remarked that the company would continue to support the nation’s infrastructure development, adding that, “Nigeria is moving more and more towards infrastructure development and for a company like C & I Leasing, we believe that we can play a role in that sphere by facilitating such operations.”
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