Ardova Plc has entered into a bulk purchase agreement with Dangote Refinery in a bid to guarantee supply security at affordable prices for its customers.
This was revealed in a statement by the Head of Brands and Corporate Communications, Ardova Plc, Grant Onome on Monday.
According to the statement, the agreement will see Ardova offtake a broad range of petroleum products from the refinery. From the beginning, Ardova has been a major offtaker from the refinery, according to the new framework that consolidated Ardova’s relationship with the refinery
The firms claim that the new framework would formalize stronger ties that will further improve the nation’s developing competitive environment in the downstream oil and gas sector.
The agreement aligns with President Bola Tinubu’s efforts to increase efficiency and competition in the oil and gas industry and Ardova Plc has also promised to distribute goods across the country at cheap pricing, according to the statement.
Recently, Dangote Refinery and MRS teamed up to offer Premium Motor Spirit(PMS), at ₦935 a liter across the country at its retail locations in a statement posted on Dangote’s X account.
Speaking about the deal, Aliko Dangote said the initially reduced price of PMS at its refinery loading gantry and provided generous credit terms to marketers is to provide succor to Nigerians.
Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, also commented on the new plant, stating that:
“Three years ago, we recognized the need to transform our lubricant plant into a state-of-the-art facility to effectively meet the demand of the Nigerian market. This new Lubricant Blending Oil Plant represents our commitment to innovation, excellence, and our vision to lead the lubricants market.”
What you need to know about Ardova Plc
Ardova Plc distributes petroleum products and is one of the top indigenous and integrated energy companies in Nigeria.
With an extensive network of over 700 retail outlets in Nigeria and significant storage facilities in Apapa, Lagos, and Onne, Rivers State, the company procures and distributes petrol (PMS), diesel (AGO), kerosene (DPK), and liquefied petroleum gas (LPG).
In November, Ardova Plc launched a cutting-edge lubricant oil blending plant with an annual production capacity of 150 million liters and a storage capacity of 14 million liters to address the growing demand in the Nigerian market.
