The Nigerian National Petroleum Company Limited has become the largest Africa’s retailer.
NNPC announced the acquisition of OVH Energy Marketing, owner and operator of the Oando branded retail service stations on saturday.
Chairman, NNPC Limited, Margery Okadigbo, said the acquisition of the assets made the national oil company the largest petroleum products’ retailer in Africa.
She said, “In order to strengthen our downstream business portfolio to enhance profitability and guarantee national energy security, NNPC has under an Accelerated Network Expansion Initiative completed the acquisition of OVH downstream assets.
“This includes the reception jetty (ASPM) with 240,000MT monthly capacity, eight LPG (Liquefied Petroleum Gas) plants, three lubes blending plants, three aviation depots and 12 warehouses.
“The acquisition will bring over 380 additional filling stations under NNPC Retail brand in Nigeria and Togo, on our journey to attaining 1,500 stations. We will be the largest petroleum product retail network in Africa.”