ARDOVA-LED CONSORTIUM MOVES TO ACQUIRE POWERGAS, TARGETS 100 CNG STATIONS ACROSS NIGERIA
LAGOS, NIGERIA — 26 SEPTEMBER 2026 | BROADPOSTA GLOBAL NEWS
An Ardova Plc-led consortium is moving to acquire Powergas Global Investments Nigeria Limited and Powergas Ebedei Limited in a transaction that could significantly expand compressed natural gas distribution across Nigeria.
The consortium, which includes Diadem Energy, has entered into an agreement with A.P. Moller Capital’s Africa Infrastructure Fund I and Impala Energy Holdings for the acquisition of the businesses collectively known as Powergas. The transaction is expected to close around the end of 2026, subject to regulatory approvals and other customary closing conditions.
Powergas has developed a compressed-natural-gas infrastructure and virtual-pipeline network designed to transport gas beyond areas served by Nigeria’s conventional pipeline system. Its operations connect industrial and commercial customers to domestic natural gas through compression facilities and road-based distribution.
A 100-station CNG expansion
Following completion of the transaction, Ardova plans to combine Powergas’ gas-sourcing relationships, compression infrastructure and industrial customer base with Ardova’s existing nationwide retail, logistics and distribution network.
A central part of that strategy is an ambitious expansion of CNG availability. Ardova says it is targeting 100 CNG refuelling sites across Nigeria within 24 months, potentially widening access to compressed natural gas for commercial fleets and motorists.
The company also intends to increase Powergas’ compression capacity along viable gas-producing corridors. The strategy is designed to create additional outlets for associated and non-associated gas while supporting efforts to reduce gas flaring and encourage further investment across Nigeria’s gas value chain.
Taking gas beyond the pipeline
Powergas was founded in 2013 around a model of delivering natural gas beyond conventional fixed pipelines through compression and virtual-pipeline infrastructure.
Its Ebedei operation converts gas that might otherwise be flared into usable energy supplied to industrial and commercial customers. Powergas currently operates four mother stations and more than 250 tube skids, according to information accompanying the transaction announcement.
A.P. Moller Capital invested in Powergas Ebedei through Impala in 2019. The Ebedei compression plant was commissioned in 2021, and Powergas subsequently expanded distribution across southern Nigeria. A.P. Moller Capital says the business has created 175 direct jobs as well as additional employment through its supply chain.
Ardova sees gas as a major growth platform
Ardova Executive Chairman AbdulWasiu Sowami said the company sees natural gas playing a major role in Nigeria’s next phase of energy development.
The strategic logic of the transaction is the combination of two different capabilities: Powergas brings compression infrastructure and virtual-pipeline expertise, while Ardova contributes a national retail and distribution footprint.
Ardova Managing Director Abiola Babatunde-Ojo said the company’s immediate priorities after completion would include expanding compression capacity, introducing CNG infrastructure into its retail network and connecting more industries and fleets to domestic gas.
Beyond Nigeria
The plans are not limited to the Nigerian market. Ardova has indicated that, over time, it intends to extend the enlarged gas platform into other West African markets.
For Nigeria, however, the immediate significance lies in scale. If the acquisition closes and Ardova executes its announced rollout, the combination would connect Powergas’ compression and virtual-pipeline infrastructure with a much larger retail and logistics network.
The proposed transaction therefore represents more than a change of ownership. It is a planned expansion of the infrastructure through which compressed natural gas can reach industries, commercial fleets and motorists beyond Nigeria’s conventional gas-pipeline network.
The acquisition has been agreed but has not yet completed. Closing is expected around the end of 2026, subject to required regulatory and other third-party approvals.
Sources: A.P. Moller Capital transaction announcement, 25 September 2026; supporting reporting and transaction coverage.
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