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Leading player in Nigeria’s downstream sector, Oando Marketing Limited has formally announced the restructuring of its business leading to a change of name to OVH Energy Marketing Limited.
In a statement, the company explained that the name change was a reflection of a recent corporate recapitalization and restructuring to admit new shareholders
The company a major oil marketing retailer, formerly known as Oando Marketing Limited has a distribution capacity of over 2 billion litres of fuels representing 13 percent of national annual consumption.
Notwithstanding the name change, OVH Energy Marketing will continue to use the existing Oando brand name in conducting its retail activities by virtue of a brand license granted by Oando PLC.
The new name enables OVH Energy leverage on the brand equity it has built over many years as Oando Marketing and the strength of its new shareholders, arming itself with the impetus required to continue to play a leading role in the downstream industry.
At a ceremony to announce the name change, Abayomi Awobokun chief executive officer of OVH Energy Marketing Limited said the company is proud to continue offering its customers sustainable high quality products and services including supply reliability, technical expertise and unmatched customer service nationwide and across the west African sub-region.
“We reiterate our commitment to safe and environmentally responsible business practices.
With this corporate recapitalization and restructure, the company will continue in its’ drive to lead other players in the downstream sector in Nigeria and across the sub-region.
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