Dangote refinery and Ardova Plc, one of the nation’s leading integrated downstream oil and gas companies formalized a bulk purchase agreement. This collaboration underscores a shared commitment to enhancing supply security and delivering cost-effective solutions to consumers across the country.
This was made known through a statement by Grant Onome, Ardova Plc’s Head of Brands and Corporate Communications, on Monday. According to the statement, this framework represents a deepened partnership between the two companies.
“While Ardova Plc has consistently been a major off-taker from the refinery, this new arrangement institutionalizes a more robust relationship,” Onome remarked.
The agreement aligns with President Bola Tinubu’s vision of fostering competition and efficiency within Nigeria’s oil and gas sector. Onome explained that the partnership is designed to ensure that Ardova Plc delivers petroleum products nationwide at competitive prices, thereby enhancing the industry’s landscape.
This development also coincides with the recent commencement of crude oil refining operations by several key players, including Dangote Refinery, Port Harcourt Refinery, and Warri Refinery.
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The entry of these refineries into active production is expected to significantly reshape the country’s energy market by addressing supply chain challenges and stabilizing prices.
The Dangote Refinery, spearheaded by billionaire industrialist Aliko Dangote, has already taken proactive steps to reduce the cost of Premium Motor Spirit (PMS).
Recently, the refinery slashed its prices from ₦970 to ₦899.50 per litre at its loading gantry. To ensure these cost reductions translate to savings for consumers, Dangote Refinery partnered with MRS to distribute PMS at a retail price of ₦935 per litre across its outlets nationwide.
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Aliko Dangote emphasized the refinery’s dedication to improving the lives of Nigerians. “Our goal is to ensure that Nigerians have ready access to high-quality petroleum products that are good for their vehicles, beneficial to their health, and affordable for their pockets,” Dangote stated.
He also extended an invitation to other major oil marketers, including NNPC Retail, to collaborate in delivering quality fuel at discounted prices. “This refinery was built for the benefit of Nigeria and Nigerians, and we will continue working with various stakeholders in the value chain to achieve this mission,” he added.
The Ardova-Dangote partnership heralds a new era of collaboration in Nigeria’s downstream oil and gas sector. By institutionalizing this agreement, both companies aim to enhance market competitiveness and ensure that Nigerians have consistent access to affordable, high-quality petroleum products.
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