Ardova Plc, one of Nigeria’s top integrated downstream oil and gas firms, has signed a bulk purchase framework agreement with Dangote Refinery to provide supply security at affordable costs for its clients.
Ardova Plc announced Monday that the arrangement formalizes a long-standing connection with the refinery, establishing the company as a key petroleum product off-taker.
“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 institutionalize 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 has more than 700 retail stores in Nigeria, as well as storage facilities in Apapa, Lagos, and Onne, Rivers State.
In November, Ardova Plc showcased a cutting-edge lubricating oil mixing plant with a production capacity of 150 million liters per year and a storage capacity of 14 million liters to suit Nigerian market demand.
Speaking about the new blending plant, Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, stated, “Three years ago, we realized that to meet the Nigerian market’s 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.”
