Ardova Plc, a leading player in Nigeria’s downstream oil and gas sector, has entered into a bulk purchase framework agreement with Dangote Refinery to enhance supply security and offer competitive pricing for its customers.
In a statement released on Monday, the company highlighted that the agreement formalizes its longstanding relationship with Dangote Refinery, establishing Ardova 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 said in part.
With over 700 retail outlets across the country and storage facilities in Apapa, Lagos, and Onne, Rivers State, Ardova Plc boasts an extensive distribution network.
In November, the company unveiled a cutting-edge lubricant oil blending plant with an annual production capacity of 150 million litres and a storage capacity of 14 million litres, designed to address the needs of the Nigerian market.
Reflecting on the new facility, Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, stated, “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.”
