Ardova Plc Consortium to Acquire Powergas for CNG Expansion

Ardova Plc, in collaboration with Diadem Energy, has entered into an agreement to acquire 100% of Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, significant players in the compressed natural gas (CNG) sector in Nigeria. The sellers are A.P.

Moller Capital, through its Africa Infrastructure Fund I, and Impala Energy Holdings. The transaction is anticipated to be completed around the end of 2026, pending regulatory and other necessary approvals.

This acquisition will provide Ardova with a substantial foothold in Nigeria’s natural gas compression, distribution, and industrial supply market. Powergas, established in 2013 by the Clean Energy Group, specializes in distributing natural gas beyond conventional pipeline networks.

Ardova plans to deploy CNG infrastructure across its retail network, targeting 100 CNG refueling sites within 24 months. Dr. AbdulWasiu Sowami, Executive Chairman of Ardova Plc, stated that the acquisition would connect Nigeria’s gas resources to various sectors, supporting government initiatives for increased domestic gas utilization.