Ardova Plc Acquires Powergas to Transform Nigeria's CNG Market

Ardova Plc has entered into an agreement to acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, collectively known as Powergas, marking a significant development in Nigeria's Compressed Natural Gas (CNG) market. Powergas, established in 2013 by the Clean Energy Group, is recognized as one of Africa’s largest CNG producers and virtual pipeline distributors.

This acquisition is a strategic move for Ardova Plc to enhance its presence in Nigeria's gas and energy sector, particularly as the country seeks to monetize its substantial gas reserves. Under the Decade of Gas national policy, Ardova aims to establish 100 CNG refueling stations within 24 months, leveraging its existing retail network and customer base.

The acquisition will also allow Ardova to invest in compression across Nigeria’s production corridors, facilitating the monetization of gas resources. Ardova's integrated energy infrastructure will encompass industrial gas, mobility, LPG, fuels, and more, positioning the company for long-term growth in the evolving energy landscape.