Ardova Plc recently held a groundbreaking ceremony to commemorate the ongoing construction of its new world-class Liquefied Petroleum Gas (LPG) storage facility at the company’s Ijora-Lagos Campus. The LPG facility which will sit on 8.8 hectares and have a combined storage capacity of 20,000 metric
tonnes, underscores Ardova’s commitment to grow revenues from cleaner fuels.
Olumide Adeosun, Chief Executive Officer, Ardova Plc, said “This event marks an important step
in our evolution to an integrated energy company, as it draws us closer to our projection of a
future where renewables and cleaner fuels represent a considerable segment of our product
offering and balance sheet.”
Mr. Adeosun also noted that “This facility, when completed will be West Africa’s largest LPG
storage complex, placing Ardova at the top of the industry in receiving, blending, storing, and
distributing the product to both commercial and retail customers. It also indicates the direction
of travel for our company, as it spotlights our confidence in LPG as the fuel of the future in
Nigeria, in congruence with both the Nigerian government’s gas expansion plan which seeks to
make LPG mainstream at the end of the decade and the present growing rate of in-country
consumer adoption of the product.
Ardova’s investment in this facility supersedes the expected commercial returns, as the
company is equally focused on the positive environmental and human impact that increased
access to gas will create. Mr. Adeosun noted that “We are also particularly interested in the
improved socio-economic prospects it portends for citizens of our beloved country, especially
rural consumers whose reliance on biomass such as firewood makes them vulnerable to
attendant health risks and reduces much needed ground cover provided by trees at alarming
speed.”
Mr. Adeosun added that “By December 2022, when construction is completed, we will have a
facility that will be both best in class and future ready. The firms involved in the construction,
fabrication, and sourcing of every single component to be used in this project have been
benchmarked against the highest standards of Engineering, Procurement, and Construction
(EPC) management, as well as Health, Safety and Environment (HSE) specifications. I am
confident that we will deliver a world class facility that will continue to yield results for the
company in decades to come.”
