Oando filling stations becomes subsidiary of NNPCL

…as NNPCL moves to rebrand all Oando filling stations

Nigerian National Petroleum Company Ltd (NNPCL) has acquired Oando retail service stations.

Confiance News gathered from a Sly news report on Sunday.

Oando retail service stations is the downstream assets owned and operated by OVH Energy Marketing.

The deal was confirmed at the weekend in Abuja during the unveiling and rebranding of one of the retail stations of OVH to NNPCL.

With this development, the NNPCL, which became a commercial entity in July this year, now has access to eight liquefied petroleum gas plants, three aviation depots and 12 warehouses.

Prior to the partnership, the NNPC owns about 500 retail stations across Nigeria. With the acquisition of OVH’s additional 380 filling stations, NNPC has become the company with biggest retail petrol stations in Africa.

Speaking at the event, Chairman of the NNPC Ltd Board, Mrs Margary Okadigbo said that the acquisition of the downstream assets of OVH would position the NNPCL to becoming the biggest downstream company in Africa.

Okadigbo said with this partnership, the NNPCL would now have a reception jetty (ASPM) with 240,000MT monthly capacity, 8 LPG Plants, 3 Lubes Blending Plants, 3 Aviation Depots, and 12 warehouses.

According to Okadigbo, as a result of the acquisition, additional 380 filling stations would be added to what the NNPC had, adding that with this, the aspiration of the National Oil Company to have 1,500 retail fuel stations would soon be achieved.

“With this partnership, we have the capacity to 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 NNPCL, that is indeed huge.

“We also have NNPCL retail brand now in Nigeria and Togo and we are on the journey to attaining the 1,500 fuel station target,” she said.

Also speaking at the event, the Group Chief Executive Officer (GCEO) of NNPCL, Mallam Mele Kyari said that the partnership would further unlock NNPCL’s potential to guarantee energy security for Nigeria.

Kyari added: “Our President who is also the Minister of Petroleum Resources has consistently insisted that this company must ensure energy security for our country.

“Providing energy security means access to products. There is no way we can do this except you have a robust system and processes, you have a network that will work, you have an institution that will deliver value to shareholders.”

According to the GCEO, OVH is a company that has systems, processes and competence that align with the energy transitioning aspiration of the NNPCL.

“We have struggled with this for many years and we saw the opportunities to latch on to the competencies of OVH. We have worked with them, they are our partners and we have also worked with them and we know their capability and ultimately we knew that this company will work for us,” he added.

The OVH said all the outlets would be rebranded NNPC and a full integration is expected by the end of 2023.

Other dignitaries that attended the event included 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.

Confiance News learnt that Oando has about 380 filling stations.

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