Ardova Plc, a leading player in Nigeria’s downstream oil and gas sector, has signed a bulk purchase framework agreement with Dangote Refinery.
The partnership aims to ensure a reliable supply of petroleum products at competitive prices, enhancing value for its customers.
In a statement on Monday, Ardova Plc announced that the agreement formalizes its longstanding relationship with Dangote Refinery, establishing the company as a major off-taker of petroleum products.
“This framework will see Ardova Plc offtake a full slate of petroleum products from the refinery. While Ardova Plc has been a significant off-taker from the refinery since its inception, this new framework will institutionalise a more robust relationship between the two companies to further enhance the emerging competitive landscape in the downstream oil and gas industry in the country.
“This framework is in line with President (Bola) Tinubu’s drive for competition and improved efficiency in the industry and will see Ardova Plc deliver products at competitive prices nationwide,” the statement partly read.
Ardova Plc operates an extensive network of over 700 retail outlets across Nigeria, supported by storage facilities in Apapa, Lagos, and Onne, Rivers State.
In November, the company launched a state-of-the-art lubricant oil blending plant with a production capacity of 150 million litres per year and a storage capacity of 14 million litres, aimed at meeting the growing demands of the Nigerian market.
Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, speaking on the new blending plant, said, “Three years ago, we realised that to accomplish our goal of adequately meeting the Nigerian market lubricant demand, we needed to transform our lubricant plant to a state-of-the-art Lubricant Blending Oil Plant that will represent our commitment to innovation and excellence and our vision is to lead the lubricants market.”
