Andova Plc (AP) and Shell Petroleum Development Company (SPDC)have agreed to a deal that will make Shell lubricants products widely available in the Nigerian market later this year
Announcing the new deal in a statement in Lagos on November 12, 2020, Chief Executive Officer of Ardova Plc, Olumide Adeosun, said: “We are delighted that our company will act as the main distributor for Shell Lubricants branded products for the automotive and industrial sectors in Nigeria”.
Ardova Plc’s Chairman, AbdulWasiu Sowami, noted the company’s goal was to provide customers with best in class products and services, build partnerships that optimize synergies and create value for all parties involved. “This deal ticks all those boxes and we are excited to add the Shell range of lubricants to the portfolio of products available to our customers.”
Osagie Okunbor, Chairman of Shell companies in Nigeria, commented on the deal: “This is a reinforcement of our commitment to continue to optimize our footprints in Nigeria while working with local companies for mutual benefits and to create opportunities for the people. Shell lubricants products will offer improved performance for automobiles across the country through Ardova’s chain of retail stations and resellers.”
Together with investments in marketing and workforce training, Ardova PLC also plans to deepen its participation in other segments of the lubricant market in Nigeria, including transport and industrials, thus making it easier for customers to access Shell’s range of lubricants products.
The deal follows an earlier Memorandum of Understanding signed between Prudent Energy, Ardova PLC and Shell Trading International Limited laying out an exploratory framework for harnessing the local and international capabilities of the respective parties including possibilities on how to progress opportunities intended to develop cleaner energy solutions.
Shell currently has a leading presence in Nigeria’s upstream sector with oil and gas exploration, production and distribution network in the southern parts of the country and deep offshore.