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 secure and competitively priced petroleum product supplies for its customers.
In a statement released on Monday, Ardova Plc described the agreement as a formalisation of its long-standing relationship with the refinery, positioning it as a key off-taker of petroleum products.
“This framework will enable Ardova Plc to offtake a full range of petroleum products from Dangote Refinery. While Ardova Plc has been a significant off-taker since the refinery’s inception, this new agreement institutionalises a more robust partnership to enhance competition in Nigeria’s downstream oil and gas sector,” the company said.
The agreement aligns with President Bola Tinubu’s vision of fostering competition and efficiency in the industry, allowing Ardova Plc to deliver products at competitive prices across the country, the statement added.
With over 700 retail outlets nationwide and strategic storage facilities in Apapa, Lagos, and Onne, Rivers State, Ardova Plc continues to strengthen its infrastructure to meet market demands.
In November, the company commissioned a state-of-the-art lubricant oil blending plant with an annual production capacity of 150 million litres and a storage capacity of 14 million litres. This move underscores its commitment to innovation and market leadership.
Speaking on the development, Ardova Plc’s Executive Chairman, AbdulWasiu Sowami, said, “Three years ago, we set out to transform our lubricant plant into a state-of-the-art facility that reflects our commitment to innovation and excellence. This plant represents our vision to lead the lubricants market and meet Nigeria’s growing demand.”
