By Aishat Momoh. O.
Owner and operator of retail service stations bearing the Oando brand, OVH Energy Marketing (OVH), has been purchased by NNPC Limited and will be amalgamated with NNPC Retail Limited (NRL).
Through operational excellence, best-in-class management, and physical infrastructure, this strategic move aims to establish the leading downstream energy company in Nigeria and West Africa while providing customers with premium petroleum products and related services that are in line with international standards.
By acquiring OVH, NNPC Retail Limited will expand on the company’s current performance and run model service shops by utilizing its significant asset base and business competencies.
In its efforts to ensure energy security for Nigeria’s expanding population and significantly greater growth potential for the corporation, NNPC Retail Limited is now in a position to become the fastest-growing commercial energy company.
According to Mele Kolo Kyari, GCEO NNPC Ltd., “Our acquisition of OVH puts more NNPC-branded petrol stations under the NNPC Retail Limited banner, offering expanded access for our consumers, an enhanced supply chain, and product availability across our numerous locations.”
“Access to the vast asset base of OVH is our daring move towards realizing our vision as NNPC Limited, which is to become a catalyst for significant transformation within the downstream oil and gas business.”
“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.
Given that it gives us a cohesive platform to draw in the proper investments, which facilitates the expansion of our operations, we are confident that this represents the sector’s much-needed transition.
According to Huub Stokman, CEO of OVH, “This acquisition by NNPC comes at a critical time in the Nigerian energy sector given the recent revision of the petroleum laws (with the enactment of the PIA), the ongoing increase in demand for petroleum products, and particularly the deliberate efforts to increase and improve the supply and consumption of natural gas in support of our energy transition goals.”
“We have always focused on a value driven approach, prioritizing the quality of products and services offered to our customers, at both retail and commercial levels.
With the combined strengths of the two companies, we can now reinvent our services and infrastructure in order to completely change the downstream energy market in Nigeria and West Africa. He continued that as we continue to prioritize technical advancement, as well as our clients, employees, and other stakeholders, it is an exciting time for us all.
Retail service stations with the OVH Energy Oando brand will change to the NNPC brand, and a complete integration is anticipated by the end of 2023.
The leadership of the combined company has a similar goal and is focused on creating value using the advantages of OVH’s operational effectiveness and NNPC’s brand.