The Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy.

NNPC made this announcement on Saturday evening via its social media platforms.

Group Chief Executive Officer NNPC Limited, Mele Kyari was quoted as saying that the acquisition was to strengthen its operations in the downstream business portfolio to enhance profitability and guarantee National Energy Security.

“NNPC has under an Accelerated Network Expansion (ANEX) Initiative completed the acquisition of OVH downstream assets including reception jetty (ASPM) with 240,000 metric tons monthly capacity, eight Liquefied Petroleum Gas (LPG) plants, three lubes blending plants, three aviation depots, and 12 warehouses,” he said.

He commended the board for the acquisition just as he lauded President Muhammadu Buhari who is also the Minister of Petroleum for laying the foundation for improving energy access.

“The acquisition is absolutely not about assets, we are building relationships. At this moment, we are the largest downstream company in Nigeria and by this merger, we are also likely going to be the largest downstream company in Africa.”

“With the new assets we are poised to becoming the largest petroleum products Retail network on the African continent,” Mele added.

He also assured the 200 million shareholders and Nigerians that the firm will prudently manage the business noting that, “We will make money for NNPC because this is a very profitable business.

https://www.ripplesnigeria.com/nnpc-limited-acquires-oando-filling-stations-others/

NNPCL has been on default to remit revenue to the federation account since how many months now...
Buhari has damaged this nation more than repair.... But with God, OBI-DATTI will fix it.

Jubril Adewale Tinubu (born 26 June 1967) is a Nigerian businessman, consultant and lawyer, who is the group chief executive of Oando PLC. He began his career in 1992 as an attorney, specialising in corporate and petroleum law assignments.

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I Love PMB

Why Oando?


This people have started oh.....Oando is owned by a Northerner and the CEO of the NNPC is a Northerner...While the Petroleum that is managed by NNPC is from the south and with the Petroleum, NNPC can never exist.....

Noted. Meanwhile, I dont what gave Buhari the audacity to make himself Minister of Petroleum Resources when he has zero knowledge of Geology or Petrochemical Engineering. Does he think because he was the Chairman of the Petroleum Trust Fund under Abacha, so he now qualifies to administer the Oil & Gas sector? Nonsense and ingredients.