Business
ARDOVA Plc, an indigenous integrated energy company in Nigeria, has unveiled its state-of-the-art lubricant oil blending plant (LOBP).
The new facility has a production capacity of 150 million litres per annum and a storage capacity of 14 million litres.
Ardova Plc’s Executive Chairman, Mr AbdulWasiu Sowami, announced this at the “AP Lubricant Distributors’ Forum” held at the company’s terminal on Tuesday in Lagos.
Sowami said the LOBP sets a new benchmark in the lubricants market, having been designed to meet the evolving demands of the Nigerian market while ensuring consistent supply across all product lines.
He stated that the energy company decided to build a new blending plant instead of upgrading its existing facility.
According to him, Ardova also introduced several initiatives aimed at strengthening its partnership with distributors.
“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 LOBP.
“That will represent our commitment to innovation and excellence, as our vision is to lead the lubricants market,”he said.
Sowami appreciated the firm’s distributors for their loyalty and patience during the construction period, noting the supply challenges faced by the distributors during the period.
Mr Moshood Olajide, Managing Director of Ardova Plc, also added that the company’s LOBP is equipped to ensure robust inventory management, significantly reducing the risk of stockouts.
Olajide noted that the facility was future-proof, allowing the firm to produce more, store more and ensure that distributors had seamless access to its products.
He disclosed that to reward and empower its distributors, Ardova introduced a reward scheme for top-performing partners, alongside other incentives.
The managing director mentioned that 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. “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 per cent 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,”he said.
According to him, Ardova remains dedicated to delivering excellence as one of Nigeria’s leading integrated energy companies, driving progress in the lubricants market and beyond.
Photo Caption: L-R: GEGM, Asset & Project Management, Mr Ibrahim Bamgbopa, GM, Network Expansion & Optimization, Ms Sade Taiwo, DMD, Ms Abiola Babatunde-Ojo, MD, Mr Moshood Olajide, GEC, Mr AbdulWasiu Sowami, Independent Director, Ms Aniola Durosinmi-Etti and Independent Director, Mr Olusola Adeeyo during the Ardova Plc (AP) Distributors’ Forum held at AP Terminal, Ijora-Lagos.
(NAN)
A.I
Nov. 26, 2024
Tags: Ardova Plc
