Major Investments
A summary of the key acquisitions and strategic holdings that have shaped NIPCO Plc's growth — from downstream petroleum into hospitality, natural gas and upstream energy.
A summary of the key acquisitions and strategic holdings that have shaped NIPCO Plc's growth — from downstream petroleum into hospitality, natural gas and upstream energy.
Over the years, NIPCO Plc has made a series of strategic acquisitions and investments that have extended the Group well beyond its origins in petroleum marketing — into hospitality, natural gas infrastructure and upstream energy production. Together, they reflect a deliberate strategy of diversification, value creation and long-term resilience for shareholders.
Downstream Petroleum
NIPCO Investment Ltd acquired ExxonMobil's entire stake in Mobil Oil Nigeria Plc, one of the country's oldest and most established petroleum marketing companies. The transaction was financed through what was recognised as the Largest Syndicated Loan for 2016/2017 (National) by the Federal Ministry of Petroleum Resources' Oil & Gas Industry Awards, given with appreciation on 19th February 2018.
The acquired business has since been rebranded and now operates as 11 Plc, a leading downstream petroleum marketing company and strategic associate of the NIPCO Group, supplying PMS, diesel, kerosene and lubricants through an extensive retail network across Nigeria.
Hospitality
Through its subsidiary 11 Hospitality Limited, associated with Continental Hotel Group, NIPCO Plc holds the iconic Lagos Continental Hotel in Victoria Island — West Africa's tallest hotel, with 358 rooms and suites across 23 floors. The investment extended the Group's reach into Nigeria's hospitality and tourism sector, complementing its downstream petroleum business.
Hospitality
In 2023, NIPCO Plc — through its subsidiary Capital Hotels Plc — acquired the Abuja Continental Hotel, formerly the Sheraton Abuja Hotel, the Group's flagship hospitality asset in Nigeria's Federal Capital Territory. Managed by Continental Hotel Group, the property offers 540 rooms and suites across 12 floors, along with Abuja's largest conference venue, further strengthening NIPCO's footprint in the hospitality sector.
Upstream Energy
NIPCO E&P Ltd is NIPCO's upstream investment vehicle, holding a 30.23% strategic stake in Savannah Energy — a pan-African energy company listed on the London Stock Exchange with producing oil and gas assets in Chad and Niger, and gas infrastructure in Nigeria. The investment gives NIPCO direct exposure to upstream production and diversifies the Group beyond its downstream base.
Natural Gas
Operating as Green Gas Limited — NIPCO's 70% joint venture with the Nigerian Gas Company (NGC) — Nipco Gas delivers compressed natural gas (CNG) and piped natural gas services across Nigeria. The investment positions the Group at the centre of Nigeria's shift to cleaner, more affordable transport and industrial fuel.
Explore our full group of subsidiaries and strategic holdings, or visit Investors Liaison for annual reports, AGM documents and shareholder information.