• Monday, December 02, 2024
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Ardova sets new benchmark in lubricants market with 150m litres blending plant

Ardova sets new benchmark in lubricants market with 150m litres blending plant

L-R: GEGM, Asset & Project Management, Engr. Ibrahim Bamgbopa, GM, Network Expansion & Optimization, Sade Taiwo, DMD, Abiola Babatunde-Ojo, MD, Moshood Olajide, GEC, AbdulWasiu Sowami, Independent Director, Aniola Durosinmi-Etti and Independent Director, Olusola Adeeyo during the Ardova Plc (AP) Distributors’ Forum held at the AP Terminal, Ijora-Lagos

Ardova Plc has set a new benchmark in the lubricants market with its state-of-the-art lubricant oil blending plant (LOBP).

According to the company, the new facility is designed to meet the evolving demands of the Nigerian market while ensuring consistent supply across all product lines. It will have a production capacity of 150 million litres per annum and a storage capacity of 14 million litres.
The indigenous integrated energy company in Nigeria noted this at the “AP Lubricant Distributors’ Forum” held at the company’s terminal in Lagos, where Ardova also introduced several initiatives aimed at strengthening its partnership with distributors, after a tour of the facility.

AbdulWasiu Sowami, chairman, Ardova Plc who shared insights into the decision to build a new blending plant instead of upgrading its existing facility said, “Three years ago, we realised that to accomplish our goal of adequately meeting the Nigerian market lubricant demand, we needed to transform our lubricant plant to state of the art Lubricant Blending Oil Plant that will represent our commitment to innovation and excellence and our vision is to lead the lubricants market”.

Sowami concluded his welcome speech by thanking the distributors for their loyalty and patience during the construction period, noting the supply challenges faced by the distributors during the period.

“Our LOBP is equipped to ensure robust inventory management, significantly reducing the risk of stockouts. This facility is future-proof, allowing us to produce more, store more and ensure our distributors have seamless access to our products,” added Moshood Olajide, Managing Director of Ardova Plc.

To reward and empower its distributors, Ardova introduced a reward scheme for top-performing partners, alongside other incentives. The company has also enhanced logistics with a dedicated fleet of lubricant trucks and improved payment systems for seamless transactions. Products now feature unique IDs for tracking and market protection.

Olajide emphasized the company’s commitment to collaboration, saying, “Our distributors are not just partners; they are the backbone of our business. We are working to ensure their profitability through financial and non-financial incentives, marketing support, and consistent product availability.”

With the capacity to produce 20 percent of Nigeria’s total lubricant demand, Ardova is positioned to drive growth and innovation in the downstream oil and gas sector. “This plant is a testament to our commitment to meet market demands and grow alongside our partners,” said Sowami.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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