Ardova Plc, one of Nigeria’s leading integrated downstream oil and gas companies, has entered into a bulk purchase framework agreement with Dangote Refinery to ensure supply security at competitive prices for its customers.
In a statement on Monday, Ardova Plc announced that the agreement formalises a longstanding relationship with the refinery, positioning the company as a key 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.
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“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 has an extensive network of over 700 retail outlets in Nigeria and storage facilities in Apapa, Lagos and Onne, Rivers State.
In November, Ardova Plc unveiled a state-of-the-art lubricant oil blending plant with a production capacity of 150 million litres per annum and a storage capacity of 14 million litres to meet the 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.”
