KPMG ENERGY & MINERALS INC

Company Description

Kpmg energy and minerals Inc started business in August 2003 as a high growth, Petroleum Products Marketing Company. Its paid - up capital at inception was (one Million dollars ) with a staff strength of 51 employees. It recorded a turnover of $4.7 Billion in its first year of operation .

Kpmg energy and minerals Inc- the Group's pioneer company set out to be, and became the fastest indigenous growing petroleum products marketing company in Nigeria history. Besides its operation in downstream sector, it was licensed to export crude oil. It adopts the strategy of acquisition to rapidly grow its business.

From an initial six (6) station it grew into 201 stations owing major operator within 18 months with plan to increase it to 500 before the end of year 2009. It has a paid up capital of $100million and an annual turnover in excess of N10 billion. It rapidly achieved its twin objective of becoming the nation's leading Oil & Gas marketer as KPMG ENERGY & MINERALS INCll as the highest employer of labour in that sector of the Nigerian Economy in the medium and long term.

The Corporation's acquisition strategy enabled it to avoid the cumbersome and time wasting process of land acquisition and gas stations construction which in most cases ties down the investor's capital in the process of negotiating and owner's genuine or purported interest. This, in addition to tedious process of obtaining statutory approvals from relevant authorities

Beyond its growth in its core inception, the company has expanded its business into other sectors of the economy such as Hospitality, Insurance, Brick /stones Industry as well as Carpentry.