Dr Thomas Ogungbangbe, chairman of CITA Energies, recounted how the aviation‑fuel supplier grew from a modest operation run out of his living room into a company whose facilities are now valued at roughly $200 million.
CITA Energies is a Nigerian firm that provides jet fuel to airlines, airports and related aviation services across the country. The company entered a market that has seen steady growth as Nigeria expands its air transport network.
According to Dr Ogungbangbe, the business began with a small team operating from his home, securing initial contracts with local carriers. Over time, the firm reinvested earnings to acquire storage tanks, build fuel farms and expand its distribution network.
Today, CITA Energies operates multiple fuel depots and maintains a fleet of fuel‑delivery trucks that service major airports and regional airfields. The expansion of its infrastructure underpins the $200 million valuation of its assets.
The company’s trajectory mirrors broader trends in Africa’s aviation sector, where rising passenger numbers and new airline routes have heightened demand for reliable fuel supplies.
Dr Ogungbangbe said the firm remains focused on further growth, aiming to deepen its presence in the domestic market and explore opportunities in neighboring countries as the regional aviation industry continues to develop.
<small>Source: Punch Nigeria — read the original story there.</small>
