The Nigerian National Petroleum Company Ltd (NNPCL) has bought the downstream assets of OVH Energy Marketing Company effectively making it the biggest downstream company in Africa.
The acquisition was announced on Saturday in Abuja during the unveiling and rebranding of one of the retail stations of OVH to NNPC.
The event was attended by the Chairman of the NNPC Ltd Board, Mrs. Margary Okadigbo; the Group Chief Executive Officer of the NNPC, Mele Kyari, the Chief Executive of the Nigeria Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed and the Executive Vice Chairman, Federal Competition and Consumer Protection Commission, Babatunde Irukera among others.
Speaking at the event, the NNPC Board Chairman said, “With this partnership, we can have 8 LPG plants, three blending plants, three aviation depots, and 12 warehouses.
“You are going to have the biggest filling station collection in Africa and when you have 380 additional filling stations under NNPC, that is indeed huge.
“We also have an NNPC retail brand now in Nigeria and Togo and we are on the journey to attaining 1,500 fuel station targets.”
With the acquisition, OVH retail stations trading under the Oando brand will now join the NNPC Brand.
OVH Energy is the company behind the Oando retail brand in Nigeria. It is an indigenous marketer of choice providing trusted petroleum products and services.
