Ardova Plc, a leading Nigeria energy company, has said that it is positioning itself to meet Nigeria diverse energy needs and consolidate its investment in the country.
Managing Director, Ardova Plc (AP), Moshood Olajide who disclosed this in Lagos during press conference in commemoration of its 60th anniversary celebration said that after 60 years in operations, the energy company has come to stay in Nigeria.
Highlighting Ardova’s diversification into renewable energy and solar solutions, he said that the company’s intent to be a key player in Nigeria’s energy transition.
He said the company is blending solar, gas, diesel, and petrol in a strategic plan that aims to navigate future disruptions in the energy market.
Speaking further he said ” we are investing and we will continue to invest in Technology to enhance our efficiency, improve our operations to sustain our profitability”
Meanwhile, Ardova’s subsidiary, Ardova Renewables, is spearheading the company’s solar energy investments as the subsidiary plans to solarize retail locations and provide solar-powered kits to small households in rural communities.
He stated that some of the benefits of listing at the Nigerian Exchange, adding that though the Ardova has been delisted from stock market in 2023, the Corporate governance standard set by NGX remains their guiding angel in all its operations today.
He said “with the help of Capital market we were able to raise funds and increase our investment,” adding that as soon as the company solidified it’s business ,the management will come back to capital market.
Also speaking, Chief Strategy Officer Abdul Hakeem Buhari said Ardova has made significant investments in infrastructure, including the largest LPG storage facility in West Africa and the largest LPG spheres in Nigeria. These investments no doubt align with the company’s broader goal of meeting both current and future energy demand.
He said Ardova Renewables is set to collaborate with commercial and industrial clients to provide industrial-level grid connections, thus ensuring a diverse energy portfolio.
He said that while backward integration into refining is not company priority at this time, Ardova remains open to such opportunities in the future but want to focus it’s business on retail market.
He said In the meantime, Ardova continues to build strong partnerships, particularly with Dangote Refinery, to ensure a steady supply of energy products. We are proud of the partnership and believe it enhances our operations by securing products for us,” he added.
