Our History
From its incorporation as British Petroleum (Nigeria) in 1964, Ardova Plc (AP) has emerged the energy for a brave new world, a publicly listed and widely renowned corporation with one of the fastest growing business portfolios within the energy sector.
Our History At A Glance
2019
Name Change
To Ardova Plc (AP)
2019
New Acquisition
Ignite investments and Commodities Ltd concludes acquisition of 74.02% equity stake in Forte Oil Plc's downstream operations
2016-2018
New Frontiers
Consolidate growth, build resilience and entrench best practices
2012-2015
Transformation Program Results
- Profits up by 342%
- Acquired 414 mw Thermal IPP
- Resumed dividend payments
- Capital reorganisation
2010-2011
Rebrand
To Forte Oil with new management and 3-year turn-around program
2007
New Era
Zenon Petroleum, led by Mr Femi Otedola acquires a majority interest from NNPC ushering in a new era
2005
NNPC buys equity stake and increases interest by converting AP debt
2000
Privatization
NNPC sold 40% to the Nigerian public
1979
Name Change
To African Petroleum Limited (AP)
1979
Indigenization
NNPC acquires 60% stake, with Nigeria public buying 40%
1965
Incorporation
As British Petroleum (Nigeria)