IN a bid to guarantee supply security at affordable prices for its customers, Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery.
This was revealed in a statement by the Head of Brands and Corporate Communications, Ardova Plc, Grant Onome on Monday.
According to the statement, the partnership will see Ardova Plc off 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 said the new framework will institutionalise a more robust relationship between the two companies to enhance further the emerging competitive landscape in the downstream oil and gas industry in the country.
“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 statement read in part.
The development comes following the recent commencement of crude oil refining by Dangote Refinery, Port Harcourt Refinery, and Warri Refinery.
Dangote Refinery recently also partnered with MRS to sell Premium Motor Spirit or petrol at ₦935 per litre nationwide at its retail outlets.
The development came after the Nigerian National Petroleum Company Limited also slashed prices below ₦1,000 per litre.
Speaking about the deal, Aliko Dangote said “To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.
“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” the statement added.
In the statement, Dangote called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”
According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices.
“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.”