The Nigeria National Petroleum Company Limited (NNPCL) has completed the acquisition of OVH Energy Downstream assets.
The action by the company is part of efforts to strengthen its downstream business portfolio, enhance profitability and guarantee Nigeria’s energy security.
According to a statement by the management of the Company, the assets include a reception jetty (ASPM) with 240,000MT monthly capacity, 8 LPG plants, 3 Lubes blending plants, 3 aviation depots and 12 warehouses.
The acquisition, which is under our Accelerated Network Expansion (ANEX) Initiative, will bring over 380 additional filling stations under the NNPC Retail brand in #Nigeria & #Togo, on our journey to attaining 1,500 stations.
“With this development, we are poised to becoming the largest petroleum products retail network on the African continent,” the company said.