NSE:ARDOVA = 11.25(0.00)

ARDOVA AT A GLANCE

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Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products. With an extensive network of over 450 retail outlets in Nigeria and significant storage facilities in Apapa, Lagos and Onne, Rivers State, we procure and distribute petrol (PMS), diesel (AGO), kerosene (DPK) and liquefied petroleum gas (LPG). Our services also involve the manufacturing and distribution of a wide range of quality lubricants from our oil blending plant in Apapa, Lagos. These lubricants include: Super V, Visco 2000 and Diesel Motor Oil. We are also the sole authorised distributor of Texaco branded Havoline Engine Oils and Lubricant in Nigeria.

As one of Nigeria’s leading suppliers of aviation fuel for local and international airlines, we provide aircraft refuelling services through our aviation joint user hydrants in Ikeja, Lagos and joint aviation depots in Abuja, Port Harcourt and Kano. In addition to our strategic retail and commercial network, we are committed to delivering renewable energy solutions to customers through our solar brand.

Our philosophy focuses on prioritising our stakeholders and offering star services. With the right people in place, we deliver a holistic brand vision through technological innovations and exceptional service delivery across the energy value chain. We remain committed to upholding good corporate governance, sound ethics and discipline and to the implementation of effective health and safety policies.

Origins and key historical milestones

From its incorporation as British Petroleum (Nigeria) in 1964, Ardova Plc (AP) has emerged the energy for a brave new world, a publicly listed and widely renowned corporation with one of the fastest growing business portfolios within the energy sector.
Timeline

2019

Name Change
To Ardova Plc (AP)

2019

New Acquisition
Ignite investments and Commodities Ltd concludes acquisition of 74.02% equity stake in Forte Oil Plc’s downstream operations

2016-2018

New Frontiers
Consolidate growth, build resilience and entrench best practices

2012-2015

Transformation Program Results

  • Profits up by 342%
  • Acquired 414 mw Thermal IPP
  • Resumed dividend payments
  • Capital reorganisation

2010-2011

Rebrand
To Forte Oil with new management and 3-year turn-around program

2007

New Era
Zenon Petroleum, led by Mr Femi Otedola acquires a majority interest from NNPC ushering in a new era

2005

NNPC buys equity stake and increases interest by converting AP debt

2000

Privatization
NNPC sold 40% to the Nigerian public

1979

Name Change
To African Petroleum Limited (AP)

1978

Indigenization
NNPC acquires 60% stake, with Nigeria public buying 40%

1964

Incorporation
As British Petroleum (Nigeria)