December 12, 2022 [BusinessDay] – Ardova plc, one of Nigeria’s major integrated energy companies, has announced that the Apapa Terminal redevelopment project (ATRP) will come on-stream in the second quarter of 2023.
The ATRP project sites consist of the construction of a 20,000 metric tonnes (MT) liquefied petroleum gas (LPG) Storage Facility, the upgrade of current fuel terminals and Lubricants, Tank Modifications, and the upgrade of the Lubricant Blending Plant.
According to the indigenous company, it has completed the front and back-end engineering, conceptual and detailed engineering design, and raised the requisite funding to complete the project.
Ardova embarked on the project in 2019 as part of its long-term plan to ensure an efficient transition to renewable and cleaner energy sources.
‘‘Since inception in 2019, we have made good progress with the Apapa Terminal redevelopment project. Presently, we have secured all regulatory approvals and the necessary infrastructure for a state-of-the-art completion,” said Moshood Olajide, Chief Financial Officer, Ardova, while giving an overview of the progression of the projects.
He said the company has also acquired a 15 million hydrant water system for hazardous purposes.
“Our target is to have the project ready by the first quarter of next year for effective use. At its completion, the storage facility, the largest of its kind in West Africa will contribute to a 25 percent increase in Nigeria’s LPG storage capacity and support government’s plan in providing alternative clean energy sources to the populace.
‘‘We are on course to accelerate the transition to renewable energy to enhance sustainable cities and communities in line with Sustainable Development Goals. Ardova will continue to set the pace and lead the path to growth and development,” the CFO said.
Ardova Plc, a downstream Oil and Gas company is a major distributor of fuel and gas for domestic and industrial use.
‘‘Ardova Plc is proud to have made consistent progress on the Apapa Terminal Redevelopment Project. This is one of the outstanding initiatives that speak to our readiness in embracing a new world of value with futuristic delivery,” said Olumide Adeosun, Chief Executive Officer, Ardova Plc.
“This initiative has made good progress due to the relentless effort of our team and our strategic partners in offering innovative low-carbon fuels approach to provide for energy deficit across the West African region.”
In addition, Adeosun re-emphasised the company’s insistence on growth through the expansion of infrastructural assets and platforms for transformation.
The indigenous firm has an extensive distribution network of 545 retail stations across the six geo-political zones of Nigeria.
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