OVH Energy Marketing (OVH), owner and operator of the Oando branded retail service stations, has been acquired by @nnpclimited , and will be merged with NNPC Retail Limited (NRL).
The group chief executive officer, NNPC Limited in a series of tweets on Saturday, said the the strategic move aims to create the leading downstream energy company in Nigeria and West Africa, driven by operational efficiency, best in class management,physical infrastructure while offering premium petroleum products and related services to customers.
With this, Oando branded stations have been changed to NNPC brand across the country.
“Through this acquisition, NNPC Retail Limited will build on the existing success of OVH and operate model service outlets leveraging OVH’s extensive asset base and commercial capabilities.
“The transaction also positions NNPC Retail Limited as the fastest growing commercial energy company in its pursuit to guarantee energy security for Nigeria’s growing population and significantly more growth opportunities for the business.
“Our acquisition of OVH, brings more NNPC branded fuel stations under the NNPC Retail Limited umbrella, providing wider access for our customers, an enriched supply chain and product availability across our different locations”, said Mele Kolo Kyari,GCEO NNPC Ltd.
“Our goal as NNPC Limited is to become a catalyst for massive improvement within the downstream oil and gas industry therefore, access to the extensive asset base of OVH is our audacious step towards attaining this goal.
“We are positive that this is the much-needed transformation required by the sector as it provides us with an integrated platform to attract the right investments which enables the growth of our operations”.
“This acquisition enables the combined strengths of both entities, to innovate our offerings and infrastructure, necessary to transform the downstream energy sector in Nigeria and West Africa. It is an exciting time for us all, as we continue to focus on technological enhancement