…Company’s initiatives to Drive Sustainable Growth
Indigenous and integrated energy company Ardova Plc is leading the charge towards a multi-energy future in Nigeria, positioning itself to address the country’s diverse energy needs while prioritizing sustainability and environmental responsibility.
The company’s Managing Director Moshood Olajide while speaking at a media parley at its head head office in Ikeja Lagos, outlined the Company’s Ardova’s commitment to energy transition, acknowledging the growing global shift towards cleaner, more efficient energy solutions.
According to him, the company is blending solar, gas, diesel, and petrol in a strategic plan that aims to navigate future disruptions in the energy market. He emphasized the increasing pressure on businesses to mitigate their environmental impact, particularly in light of climate change and pollution concerns.
“While energy transition in Nigeria is expected to take longer due to the need for a ‘just transition,’ the country’s abundant sunshine makes solar energy particularly promising, especially in the northern regions.
“This shift is essential in addressing the visible effects of climate change in Nigeria, including floods and changing rainfall patterns” said Olajide.
Meanwhile, Ardova’s subsidiary, Ardova Renewables, is spearheading the company’s solar energy investments as the subsidiary plans to solarize retail locations and provide solar-powered kits to small households in rural communities.
Chief Strategy Officer Abdul Hakeem Buhari says Ardova Renewables is set to collaborate with commercial and industrial clients to provide industrial-level grid connections, thus ensuring a diverse energy portfolio.
“While backward integration into refining is not a priority at this time, Ardova remains open to such opportunities in the future. In the meantime, Ardova continues to build strong partnerships, particularly with Dangote Refinery, to ensure a steady supply of energy products.
The event also served as an opportunity for participants to get answers to questions bordering on acquisitions of the company.
“Another option we had was to acquire a bucket of stations in a transaction. And that’s what led to the Enyo Acquisition. It was to consolidate our market share in the downstream oil and gas business. We own 100 percent stake in Enyo.
“Enyo Retail Services Limited is a wholly owned subsidiary of Ardova Plc. As part of our future, Enyo will be a significant part of that. The stations will remain under the control of Ardova Plc as it is currently.
“The reputation that people have had to associate with Enyo and Ardova, we hope to take the best of the two reputations and project that into the future in terms of our retail chain. Enyo, the stations, the sites, the services, the customer loyalty that you have with Enyo will remain a part of our future, because life begins at 60,” Olajide added.
Responding to questions around energy transition, he said, “As a business, we believe fundamentally in energy transition. And you know why? Because it would be stupid of a business of our scale to pretend like we don’t understand the impact of businesses on the environment; and how there’s been a global shift away from polluting the environment or making the environment unlikely to be available for our children.
“And we’re already seeing the impact. You can see the floods that are happening in Nigeria. You can see the altered rain patterns and things that are happening. This is the period, maybe like a month or two ago, we should have had a lot of food in the market,” Olajide said.
“We are the only downstream energy company with a full slate of products in the market and will continue to solidify its position in the industry. We will continue to scale and prioritize delivering excellent service to our customers (internal and external),” Olajide said.
Ardova has also made significant investments in infrastructure, including the largest LPG storage facility in West Africa and the largest LPG spheres in Nigeria. These investments no doubt align with the company’s broader goal of meeting both current and future energy demands. The conversations also touched on the company’s positive outlook on its relationship with Dangote Refinery.
“We believe that in Nigeria, there will need to be a just transition. And part of that transition, gas is going to play a very significant part of that. Gas is a cleaner form of energy than other sources that we’re talking about. We believe that renewable energy sources such as solar and maybe wind and even hydro will play a significant part of that future. Abdul Hakeem Buhari, Chief Strategy Officer of the Company said.
“The way our business model is positioned. We see Dangote refinery as a catalyst to our business kinds of enhances our way of securing products from from them. So we are proud with them. We are proud of what Alhaji Dangote has has done, and we will continue to partner with him. So we do not see Dangote refinery as a disruption to our business. Rather, it is a way to aid our business operation through energy supply security.
“At Ardova Plc, what are we doing about that? What we’re doing about that is to invest in those things that we know will disrupt our business in the future. We are proud of the partnership and believe it enhances our operations by securing products for us, ” he further said.
The name “Ardova” is derived from the Dutch or Arabic word Aarde, meaning “earth,” and the word “value,” reflecting Ardova’s commitment to sustainability. Observers say the company is living up to its name, with its forward-thinking business model ensuring a reliable energy supply and supporting its goal in leading Nigeria’s renewable energy sector while maintaining the country’s energy security.
Source: av1tv.com
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