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Demystifying Petroleum Marketing: Professor Okoye’s Trailblazing Insights

By William Emmanuel Ukpoju
In a recent event hosted in the heart of Nigeria’s capital, Abuja, Professor Okoye unveiled his magnum opus: “Dynamics of Petroleum Products Marketing,” “Insight into Crude Oil Marketing,” and the ground-breaking AptFuel Technology application. This innovation represents the culmination of years of tireless research, offering a beacon of clarity amidst the tumultuous seas of energy commerce. In this special feature, Valuechain delves into the narrative of Professor Billy Okoye’s journey, exploring the profound impact of his contributions on the landscape of petroleum marketing, and the transformative potential they hold for the future of Nigeria’s oil and gas industry.
rofessor Billy Okoye, the Coordinator of Oil, Gas, and Energy Marketing at the University of Abuja Business School, has emerged as a leading authority in petroleum marketing, unveiling the intricacies of this vital sector through his ground-breaking works.
At a recent event tagged “Unveiling of my books” held at the International Conference Centre, Abuja, Professor Okoye unveiled his latest literary contributions to the field: “Dynamics of Petroleum Products Marketing” and “Insight into Crude Oil Marketing.” These titles represent a culmination of over two decades of relentless dedication, research, and hands-on experience in the oil and gas arena. Professor Okoye’s aim is clear: to demystify the complexities of petroleum marketing and offer invaluable insights into this dynamic industry.
“Dynamics of Petroleum Products Marketing” delves deep into the multifaceted world of marketing within the petroleum industry. From refining processes to pricing mechanisms, political influences, and the ongoing energy transition, this book offers a comprehensive framework for navigating the ever-changing landscape of petroleum products marketing. Similarly, “Insight into Crude Oil Marketing” provides a detailed exploration of crude oil marketing dynamics, commercial processes, geopolitical influences, and technological advancements, shedding light on the critical aspects of this cornerstone of the global economy.
However, Professor Okoye’s contributions extend beyond theoretical insights. The launch of the AptFuel Technology application underscores his commitment to innovation and efficiency within the industry. This ground-breaking technology simplifies fuel station management, offering real-time information systems, cost reduction strategies, and improved returns for stakeholders. With AptFuel Technology, Professor Okoye is revolutionizing fuel station operations, paving the way for streamlined processes and enhanced profitability.
During his review, Hon. Damat Adullahi, CEO of Damat and Sons Limited, represented by Abdullahi Shuaibu Damat, said the AptFuel application will help people determine product availability at preferred destinations to refuel their vehicles. Shuaibu said that the current happenings concerning deregulation show that there will be price variations that will open a window for people to have choices in the prices of petroleum products. “At the comfort of your home, once you download AptFuel mobile application to your phone, it will give you an insight about the fuel station to utilise in terms of proximity, product availability and best rated according to users.
“The application has a navigation system such as the ‘Uber’ application which will help one to choose a preferred fuel station from one’s comfort zone after comparing prices, then navigate you to the station”, he said.
Damat further stated that Prof. Okoye had over the time studied the challenges faced by Nigerians especially motorists concerning transactions while trying to make payment at the fuel stations. To this effect, users of the application can access the ‘Instant Wallet’ which could allow code generation to be given to a third party (driver) at a stipulated price to be scanned by a fuel attendant for accurate sale and value.
While delivering his speech, Professor Okoye commended Dr. Mele Kyari’s leadership at the Nigerian National Petroleum Company Limited (NNPC) and further emphasised the positive strides made under Kyari’s tenure. Escaping the burden of losses and achieving significant profits, coupled with transformative initiatives such as the Gwagwalada Independent Power Project, reflect a commitment to driving growth and development within the oil and gas sector.
Dr. Kyari, in turn, lauded Professor Okoye’s efforts in knowledge transfer, acknowledging the profound impact of his works on shaping the future of the oil and gas industry in Nigeria and beyond. With their collective vision and expertise, Okoye and Kyari are charting a course towards a more prosperous and sustainable future for the Nigerian oil and gas industry.
Professor Billy Okoye’s pioneering works and technological innovations, alongside Dr. Mele Kyari’s transformative leadership, herald a new era of progress and innovation in Nigeria’s oil and gas sector. As the industry continues to evolve, Professor Okoye’s contributions serve as a guiding light, illuminating the path towards excellence and prosperity in petroleum marketing.
Finally, as the curtains draw close on an eventful evening in Abuja, it’s evident that Professor Billy Okoye’s legacy transcends the pages of his books and the confines of the lecture hall. His unwavering dedication to unravelling the intricacies of petroleum marketing has not only shed light on the industry’s complexities but has also paved the way for innovation and progress.
With his trilogy of works and ground-breaking AptFuel Technology application, Professor Okoye has armed industry stakeholders with the knowledge and tools needed to navigate the ever-evolving landscape of energy commerce. As Nigeria’s oil and gas sector stands on the cusp of transformation, fuelled by visionary leadership and scholarly insights, one thing remains certain: the legacy of Professor Billy Okoye will continue to shape the narrative of petroleum marketing for generations to come.