Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery.
In a statement on Monday, the Head of Brands and Corporate Communications, Ardova Plc, Grant Onome, noted that the development will guarantee supply security at affordable prices for its customers.
The statement claims that as a result of the partnership, Ardova Plc will be able to purchase the refinery’s entire range of petroleum products.
Although Ardova Plc has been a major offtaker from the refinery since its founding, Onome stated that the new structure will formalize a stronger partnership between the two businesses to further improve the developing competitive environment in the downstream oil and gas sector of the nation.
This comes after Dangote Refinery, Port Harcourt Refinery, and Warri Refinery recently started refining crude oil.
Recently, Dangote Refinery and MRS teamed up to offer Premium Motor Spirit or gasoline at N935 a liter across the country at its retail locations.
Following a price cut by the Nigerian National Petroleum Company Limited below N1,000 per litre, the development occurred.
Speaking about the deal, Aliko Dangote said,
In the statement, Dangote called on other oil marketers such as the NNPC Retail and all other marketers, to work with the refinery to ensure that Nigerians enjoy high-quality petrol at discounted prices.
According to him,
TimesNow.com.ng reported that the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has praised Dangote Refinery’s management for bringing the price of its gasoline down to N899.50K per litre.
ChannelsTV reported that PETROAN spokesperson Joseph Obele said in a statement on Thursday that the action is a huge relief for drivers and Nigerians in general.
According to PETROAN president, Billy Gillis-Harry, Dangote Refinery’s price cut would lessen Nigerians’ suffering and lower living expenses over the holiday season.
Source: TimesNow.com.ng
