Ardova's Wasiu Sowami to Acquire Powergas for Gas Expansion

Wasiu Sowami, associated with Ardova, is spearheading a consortium that includes Diadem Energy to purchase Powergas, with the transaction anticipated to finalize by late 2026. Powergas operates a virtual pipeline, delivering compressed gas to customers outside Nigeria's conventional pipeline network and has facilities in Lagos, Rivers, Delta, and Ondo.

Ardova, which has a robust retail presence and established customer relationships from its petrol and diesel sales, plans to leverage these assets to enhance Powergas's operations. Sowami stated that Nigeria's future energy development will focus on gas at scale.

Ardova intends to install compressed natural gas (CNG) infrastructure at 100 refueling sites within 24 months post-deal closure, addressing vehicle availability and refueling access challenges. The acquisition also aims to expand Powergas's compression capacity and potentially extend operations into other West African markets.

Regulatory approval is required before the deal can proceed.