Investogist
No Result
View All Result
Tuesday, May 20, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Two Climbers have died on Mount Everest – Nepalese hiking officials

    Two Climbers have died on Mount Everest – Nepalese hiking officials

    Passport processing: Immigration to open passport desks at international airports

    Federal Government Launches Online Citizenship and Business Management Platform

    Sunny Anene raises his stake in United Capital Plc

    Tantalizers PLC acquires Grand Media Projects Limited

    Finland charges Simon Ekpa with inciting terrorism

    Finland charges Simon Ekpa with inciting terrorism

    Seyi Makinde sympathizes with traders over Alesinloye market fire incident in Ibadan

    Seyi Makinde sympathizes with traders over Alesinloye market fire incident in Ibadan

    President Trump pauses Military aid to Ukraine after clash with Ukraine President Zelensky

    President Trump pauses Military aid to Ukraine after clash with Ukraine President Zelensky

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    Nissan plans to shut car assembly plants in Japan and overseas

    Nissan plans to shut car assembly plants in Japan and overseas

    Sunny Anene raises his stake in United Capital Plc

    Tantalizers PLC acquires Grand Media Projects Limited

    Old ₦200, ₦500, and ₦1,000 banknotes remain legal tender – CBN

    Japaul to raise ₦500 billion capital for gold mines development and acquisition

    Breaking: NNPC releases statement on fuel price adjustment

    President Tinubu sacks Mele Kyari, dissolves NNPC Limited’s Board

    Sunny Anene raises his stake in United Capital Plc

    Renaissance completes acquisition of Shell Petroleum Company of Nigeria

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    Meta set to lay off employees in Africa, Europe, Asia

    Meta set to lay off employees in Africa, Europe, Asia

    Release of Oando’s 2019 Annual Financial Statements delayed again

    Oando Plc expands African upstream portfolio with oil block bid win in Angola

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

    GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share

    GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share

    Dangote refinery set to import Crude oil from Brazil

    Dangote refinery set to import Crude oil from Brazil

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Two Climbers have died on Mount Everest – Nepalese hiking officials

    Two Climbers have died on Mount Everest – Nepalese hiking officials

    Passport processing: Immigration to open passport desks at international airports

    Federal Government Launches Online Citizenship and Business Management Platform

    Sunny Anene raises his stake in United Capital Plc

    Tantalizers PLC acquires Grand Media Projects Limited

    Finland charges Simon Ekpa with inciting terrorism

    Finland charges Simon Ekpa with inciting terrorism

    Seyi Makinde sympathizes with traders over Alesinloye market fire incident in Ibadan

    Seyi Makinde sympathizes with traders over Alesinloye market fire incident in Ibadan

    President Trump pauses Military aid to Ukraine after clash with Ukraine President Zelensky

    President Trump pauses Military aid to Ukraine after clash with Ukraine President Zelensky

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    Nissan plans to shut car assembly plants in Japan and overseas

    Nissan plans to shut car assembly plants in Japan and overseas

    Sunny Anene raises his stake in United Capital Plc

    Tantalizers PLC acquires Grand Media Projects Limited

    Old ₦200, ₦500, and ₦1,000 banknotes remain legal tender – CBN

    Japaul to raise ₦500 billion capital for gold mines development and acquisition

    Breaking: NNPC releases statement on fuel price adjustment

    President Tinubu sacks Mele Kyari, dissolves NNPC Limited’s Board

    Sunny Anene raises his stake in United Capital Plc

    Renaissance completes acquisition of Shell Petroleum Company of Nigeria

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    Meta set to lay off employees in Africa, Europe, Asia

    Meta set to lay off employees in Africa, Europe, Asia

    Release of Oando’s 2019 Annual Financial Statements delayed again

    Oando Plc expands African upstream portfolio with oil block bid win in Angola

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

    GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share

    GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share

    Dangote refinery set to import Crude oil from Brazil

    Dangote refinery set to import Crude oil from Brazil

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

Ardova Plc – The 56 years journey and a change of registered address

Wednesday, 6 January 2021, 5:50 pm
in Business, Companies
0
Ardova Plc – The 56 years journey and a change of registered address
Share Share Share Share Send as Email

In 1964, It was incorporated as British Petroleum (Nigeria), and in 2021 it the year with a change of its registered office address, bearing the name Ardova Plc.

In a publication on the Nigerian Stock Exchange seen by Investogist, Ardova Plc (NSE Ticker: ARDOVA) informed The Exchange and the investing public that the Corporate Affairs Commission has approved the change of the Company’s Registered Office Address from 13 Walter Carrington Crescent, Victoria Island, Lagos to 1 AP/Conoil Road, Ijora, Lagos.

About the Company

Ardova Plc is a Nigerian leading indigenous and integrated energy company involved in the distribution of petroleum products. It has an extensive network of over 450 retail outlets in Nigeria and significant storage facilities in Apapa, Lagos and Onne, Rivers State.

The company procure and distribute petrol (PMS), diesel (AGO), Kerosene (DPK) and liquefied petroleum gas (LPG). Its services also involve the manufacturing and distribution of a wide range of quality lubricants from its oil blending plant in Apapa, Lagos.

  • Read also; NSE suspends trading on the shares of Thomas Wyatt Nigeria Plc
  • Peace Mass Transit Limited acquires 55.82% of C&I Leasing Plc shares via convertible loan stock

The lubricants distributed by ARDOVA include: Super V, Visco 2000 and Diesel Motor Oil. It is also the sole authorised distributor of Texaco branded Havoline Engine Oils and Lubricant in Nigeria.

ARDOVA is also a leading supplier of aviation fuel for local and international airlines, it provides aircraft refueling services through its aviation joint user hydrants in Ikeja, Lagos and joint aviation depots in Abuja, Port Harcourt and Kano.

The company also provide renewable energy solutions to customers through its solar brand.

History of the Company

ARDOVA was incorporated on 11 December 1964 as British Petroleum. After 14 years of operation, the company changed its status from a private limited liability company to a public liability company.

In 1978, Nigerian National Petroleum Corporation (NNPC) acquired 60% stake in British Petroleum, with the Nigeria public buying the remaining 40%. The acquisitions were in compliance with the provisions of the Nigerian Enterprises Promotion Decree of 1977.

In 1979, the name of the company was changed from British Petroleum to African Petroleum Plc (AP).

In 1989, the Federal Government of Nigeria reduced its stake in African Petroleum held by its National Oil Company, NNPC, by selling 20% in March of that year to Nigerian Citizens. The transaction swung the majority shareholding of African Petroleum to the Nigerian Citizens with 60%, while the Nigerian Federal Government held 40%.

In the year 2000, under President Olusegun Obasanjo administration’s privatization programme, the NNPC sold the 40% of AP shares it held for the Nigerian Government to the Nigerian Public.

In 2005, NNPC converted its AP debt to equity, thereby taking back equity stake in the oil marketer. This equity stake was held by Incorporated Trustees of NNPC’s Pension Fund.

In 2007, in May to be precise, a new era became for the company as Mr. Femi Otedola’s Zenon Petroleum & Gas Limited acquired NNPC’s stake as the national oil company divested from AP. The acquisition made Zenon Petroleum the majority shareholder in the Company.

2010-2011, under the new management, the company embarked on a rebranding and turn-around program. Its name was changed to Forte Oil Plc in December, 2010, and its retail outlets nationwide were rebranded as well.

In 2013, under the Presidency of Goodluck Jonathan, Forte Oil Plc (FO) purchased a controlling stake in the 414 MW Geregu Power Plant under a government-led privatization programme in the power industry.

In 2019, Prudent Energy and Services owned by Abdulwasiu Sowami through Sowami’s investment company Ignite Investments and Commodities Limited acquired 74.02% equity stake in Forte Oil Plc’s downstream operations. The acquisition gave Abdulwasiu Sowami controlling shares of Forte Oil excluding the Geregu Power Plant.

In a special resolution passed by Shareholders at an Extraordinary General Meeting held on December 17, 2019, with the approval of the Corporate Affairs Commission, the company’s name was changed from Forte Oil Plc to Ardova Plc.

Share price on the Nigerian Stock Exchange

ARDOVA has 1.302 billion outstanding shares, and a market capitalization of N17.648 billion. Its share price at the end of trading on Wednesday 6th January, 2021 was N13.55.

The share price has not changed in 2021 at the time of this write-up. Year-on-Year, the share price is down by 18.86%.

Its 52 week high price is N20.60 while its 52 week low price is N9.40.

By; Nnamdi M.

Related Posts:

  • ripple-labs
    Ripple is now registered as a Wyoming business
  • Yul Edochie
    Nollywood Star, Yul Edochie holds first online…
  • PVC registration
    INEC says 22.6% of registered voters from 28th June…
  • Buhari 1
    Another "Fools' Journey": Buhari and African…
Previous Post

NSE suspends trading on the shares of Thomas Wyatt Nigeria Plc

Next Post

Access Bank (Zambia) Limited completes acquisition of Cavmont Bank Limited

Next Post
Access Bank Refunds Customers Stamp Duty Charge

Access Bank (Zambia) Limited completes acquisition of Cavmont Bank Limited

Please login to join discussion
  • Trending
  • Comments
  • Latest
List of Dividends announced in 2024, qualification and payment dates

List of Dividends announced in 2024, qualification and payment dates

North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

ELECTION: How to check your polling unit, code online

Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

Breaking: President Joe Biden diagnosed with “aggressive” cancer

Military Leader of Burkina Faso extends transition rule by five years

Military Leader of Burkina Faso extends transition rule by five years

Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

Breaking: President Joe Biden diagnosed with “aggressive” cancer

Mexican Navy Ship crashes into New York Bridge

Mexican Navy Ship crashes into New York Bridge

Pope Leo XIV holds inaugural mass, sets tone for his papacy

Pope Leo XIV holds inaugural mass, sets tone for his papacy

NGX Daily Equities Market Report: Market gains for third consecutive days

CSCS Plc explores listing on the Nigerian Exchange (NGX)

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved