Gas
Ardova consortium buys Powergas to expand Nigerian CNG
An Ardova-led consortium has agreed to acquire Powergas to build a vertically integrated compressed natural gas network across Nigeria.
Key points
- Ardova consortium agrees to purchase Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited.
- The deal combines Powergas compression facilities with Ardova retail sites to target 100 CNG stations in 24 months.
- Executive Chairman AbdulWasiu Sowami notes that the transaction creates a domestic gas platform from source to vehicle.
What happened
According to ThisDay Live, an investment group led by Ardova Plc has reached an agreement to take over Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited. Established in 2013 by the Clean Energy Group, Powergas operates as a prominent virtual pipeline distributor and producer of compressed natural gas on the continent.
Why it matters
ThisDay Live reported that the transaction integrates Powergas's compression infrastructure with Ardova's extensive service station footprint. The unified business plans to establish 100 compressed natural gas refuelling locations within two years.
Nigeria possesses the largest proven gas reserves in Africa, and domestic monetisation remains a key government objective under the Decade of Gas initiative. Rising transport costs have pushed fleet operators toward more economical fuel alternatives.
What comes next
Dr AbdulWasiu Sowami, Executive Chairman of Ardova Plc, stated as reported by ThisDay Live that future energy development in the country will depend on gas utilisation at scale. The company intends to deploy refuelling infrastructure across its existing retail network to widen access for motorists and commercial transport operators.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Gas is the flexible backbone of many grids and the designated transition fuel in many national plans, from LNG trade to domestic LPG and CNG. Supply security and pricing drive both power reliability and emissions.
72.9% of electricity in Nigeria came from gas in 2024Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
