Dangote refinery partners Ardova on bulk fuel supply deal

Ardova Plc, a leading player in Nigeria’s downstream oil and gas sector, has signed a bulk purchase framework agreement with Dangote Refinery to ensure consistent product supply at competitive prices for its customers.

In a statement released on Monday, Ardova Plc highlighted that the agreement solidifies its longstanding relationship with the refinery, establishing the company as a key off-taker of petroleum products.

“This framework will enable Ardova Plc to offtake a comprehensive range of petroleum products from Dangote Refinery. While we have been a significant off-taker since the refinery’s inception, this new agreement institutionalizes a stronger partnership between our companies to foster a more competitive downstream oil and gas market in Nigeria,” the statement read.

The agreement aligns with President Bola Tinubu’s push for greater competition and efficiency in the oil and gas sector. Ardova Plc assured that it will deliver products at competitive prices nationwide.

The company boasts a vast network of over 700 retail outlets across Nigeria and operates storage facilities in Apapa, Lagos, and Onne, Rivers State.

In November, Ardova Plc launched a cutting-edge lubricant oil blending plant with an annual production capacity of 150 million litres and a storage capacity of 14 million litres to address the growing demand in the Nigerian market.

Commenting on the new plant, Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, stated: “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.”