Ardova CEO, Olu Adeosun, Resigns


By Moses Ebosele,

Ardova Plc has announced the resignation of its   

Chief Executive Officer (CEO), Olu Adeosun with effect from August 31, 2023.

 In a statement sent to City Business News, the company explained that Olu Adeosun will remain engaged with Ardova’s activities until December 31, 2023, ensuring a smooth transition to the new executive management. 

 Meanwhile, Moshood Olajide has been appointed as Managing Director to advance the company’s post-delisting transformation. 


Part of the statement read: “Ardova is the crown jewel in our portfolio and is in an exciting position to create value in the energy industry, with many opportunities ahead.”  AbdulWasiu Sowami, Group Executive Chairman, Prudent Group (owners of Ardova Plc) said: “I look forward to working closely with our partners and the Ardova leadership to continue executing on the company’s long-term vision & strategy. On behalf of the Board of Directors and staff, I thank Olu for his contributions to the growth of the company. We wish him well in the future.”

“After over four years of building a market offering leveraging the strength and customer loyalty of the AP brand across multiple channels and partnerships, I believe this is the right point to hand over leadership,” said Olu Adeosun. “I want to thank the incredible Ardova Board, management, team, our customers, and partners – especially our formidable dealers – for their relentless support. I will work with the Chairman and the Board to ensure a smooth transition and I will continue to be a customer, stakeholder, and lifelong fan of Ardova, its products & services.”

Ardova Plc is a leading Nigerian integrated energy company with an extensive network of over 695 retail outlets in Nigeria and storage facilities in Apapa, Lagos, and Onne, Rivers State. Ardova procures and distributes petrol (PMS), diesel (AGO), aviation turbine kerosene (ATK), and liquefied petroleum gas (LPG). We also manufacture and distribute a wide range of quality lubricants from our oil blending plant in Apapa, Lagos.