Ardova Plc Partners with Dangote Refinery for Bulk Deal

Ardova Plc, one of Nigeria’s biggest integrated downstream oil and gas enterprises, has agreed to a bulk purchase arrangement with Dangote Refinery in order to provide its clients with supply assurance at competitive costs.

Grant Onome, Ardova Plc’s Head of Brands and Corporate Communications, stated this in a statement issued on Monday.

According to the release, the cooperation will allow Ardova Plc to take a full slate of petroleum products from the refinery.

While Ardova Plc has been a significant off-taker from the refinery since its inception, Onome stated that the new framework will institutionalize a more robust relationship between the two companies, enhancing the country’s emerging competitive landscape in the downstream oil and gas sector.

“This framework is in line with President Tinubu’s drive for competition and improved efficiency in the industry, and Ardova Plc will deliver products at competitive prices nationwide,” the press release said.

The development follows the recent start of crude oil refining at Dangote Refinery, Port Harcourt Refinery, and Warri Refinery.

Dangote Refinery has teamed with MRS to sell Premium Motor Spirit (petrol) at ₦935 per litre nationwide at retail outlets.

Nigerian National Petroleum Company Limited also reduced rates to below ₦1,000 per litre.

Speaking on the agreement, Aliko Dangote stated, “To help Nigerians, Dangote recently dropped the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and extended extensive credit terms to traders.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” according to the announcement.

In the statement, Dangote urged all oil marketers, including NNPC Retail and all others, “to collaborate with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

He stated, “The Dangote Refinery is for the benefit of Nigeria and Nigerians.” We will thus continue to collaborate with diverse value chain actors to provide high-quality gasoline at lower pricing.

“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”