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Company Intelligence Terminal · Oil & Gas · Downstream Marketing

ARDOVA · Ardova Plc

Ardova Plc

ARDOVA
NGXEquity · Ordinary SharesOil & GasDownstream Marketing
25.40NGN+0.79%
Market cap ₦33.00B · as of 17 Jun 2026, 08:36
Ask about ARDOVA
Current price
25.40NGN
Open
25.19
Previous close
25.20
Today's range
25.09 – 25.63
52-week high
26.42
52-week low
22.91
Deals
83
Volume
6.2M
Value traded
₦158.5M
Market cap
₦33.00B
YTD performance
+0.79%

Company profile

Ardova Plc is a leading oil & gas operator in Nigeria, with operations spanning multiple states and a track record across investment cycles.

CEO
Olumide Adeosun
HQ
Lagos
Founded
1964
Employees
540
Sector
Oil & Gas
Sub-sector
Downstream Marketing
Ticker
ARDOVA
Website
ardova.ng
Beta
1.08
AI-generated summary

Ardova Plc (ARDOVA) operates in Nigeria's oil & gas value chain with an estimated FY2024 revenue of ₦27bn and PAT of ₦3bn. Headline ROE is 7.8% and leverage sits at 0.50x debt-to-equity, mapping to a composite risk score of 41/100 (Moderate).

Bull case
  • Scale leadership within its oil & gas sub-sector with durable distribution moat.
  • Resilient ROE supports re-rating if rates ease in H2.
  • Capital-light reinvestment runway versus listed peers.
Bear case
  • FX volatility could compress imported-input margins.
  • Working-capital build-up in a 27.5% MPR environment.
  • Sector regulatory cadence could front-load compliance cost.

Key risks

  • Macro: persistent inflation > 25% pressuring real demand.
  • Sector-specific regulatory action and tariff resets.
  • Single-market concentration in Nigeria.

Recent developments

  • Board recommended final dividend at last AGM cycle.
  • Operational expansion announced in Lagos corridor.
  • Engagement with CBN on FX repatriation framework noted in latest filing.

Recent news

  • positiveProshare Markets· 09 Jun
    Ardova Plc signs MoU with CBN on FX repatriation framework
  • neutralNGX Wire· 07 Jun
    ARDOVA crosses key technical level on rising volume
  • negativeProshare Research· 04 Jun
    Analysts trim ARDOVA FY26 EPS estimate by 4% on margin pressure
  • positiveBusinessDay· 01 Jun
    Ardova Plc expands Lagos operations with NGN 0.7bn capex