As part of its goal to become the largest operator in the downstream sector of the Sub-Saharan Africa market, the Nigerian National Petroleum Company Limited, NNPC, announced the formal acquisition of all Oando energy retail stations in the country.

Speaking at the formal ceremony to mark the takeover, the Group Managing Director of the NNPC, Mr. Mele Kolo-Kyari, said, “The acquisition, which is under the accelerated network expansion initiative. It will bring over 380 additional filling stations under the NNPC retail brand in Nigeria and Togo on our journey to attaining 1,500 stations”.

According to the GMD of NNPC Limited, the acquisition will reposition the company as the most significant petroleum products Retail network on the African continent.

He added, “Our goal as NNPC Limited is to become a catalyst for massive improvement within the downstream oil and gas industry; therefore, access to the extensive asset base of OVH is our audacious step towards attaining this goal.”

The transaction also positions NNPC Retail Limited as the fastest growing commercial energy company in its pursuit to guarantee energy security for Nigeria’s growing population and significantly more growth opportunities for the business.

The acquisition will bring more NNPC branded fuel stations under the NNPC Retail Limited umbrella, providing more comprehensive access for our customers, an enriched supply chain and product availability across its different locations.