C & I Leasing Explores Alternative Energy for Revenue Growth
Kayode Tokede
C & I Leasing Plc expressed that it is set to tap into opportunities in the compressed natural gas (CNG) vehicle initiatives in-line with the Federal Government gas policy to drive revenue.
The Board Chairman, C & I Leasing, Dr. Samuel Maduka Onyishi; Founder and Vice Chairman, C & I Leasing, Mr. Chukwuemeka Ndu, and GMD/CEO, C & I Leasing, Mr. Ugoji Lenin Ugoji were among management delegation that visited the Nigerian Exchange Limited (NGX) recently.
Speaking to journalists at the company’s “Facts Behind the Figures” presentation on the floor of NGX, in Lagos, Ugoji said, “We think that we’re going to continue in that line in terms of not just to speak to CNG vehicle investment, but actually to do it. We think we can provide some support in that sector.”
According to him, there is a need to understand the impact of CNG on manufactured fuel vehicles, stressing on the importance of fuel to CNG conversion research.
“We will research as long as we think it is necessary. A typical vehicle is amortized over four or five years. So, that means that you need to know what’s going to be the impact of CNG on vehicles,” he said
Chief Financial Officer, C & I Leasing, Okechukwu Nnake, presenting the “Fact Behind The Figures” said the turnover increased by N8.2 billion, 82 per cent above actual in H1 2023 over optimal utilization of operating leased assets, growth in cross-marine charter and new contracts and expansion in the existing ones.
He stated that the profit before tax increased by N807 million, 299 per cent above actual in H1 2023 due to growth in revenue through expansion in existing/ new contracts, employing several cost optimization techniques via continuous process improvement and automation technology.
He assured the market community that C & I Leasing would continue to optimize cross charter to generate high margins with minimal capital investment.
CEO, NGX, Mr. Jude Chiemeka said C & I Leasing has been a prominent player on the Exchange, with over two decades of operational excellence.
He expressed that over the years, the company has evolved into a diversified conglomerate specializing in leasing and business services.
