Ardova-Led Consortium Acquires Africa's Largest CNG Producer
Ardova-led consortium to acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited, Africa's largest CNG producer.
The acquisition will combine Powergas' gas sourcing relationships, compression infrastructure, and industrial customer base with Ardova's nationwide retail, logistics, and distribution network. This deal is expected to expand Ardova's operations into Compressed Natural Gas (CNG) production and distribution.
Ardova Executive Chairman, Dr. AbdulWasiu Sowami, said the acquisition will enable the company to connect Nigeria's gas resources to the industrial, power, and transportation sectors, supporting the Federal Government's Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) and the Decade of Gas programme.
The deal is subject to customary closing conditions, including required regulatory and other third-party approvals. Completion of the acquisition is expected around the end of 2026.