Abdulwasiu Sowami
Abdulwasiu Sowami is a Nigerian businessman and philanthropist. He is the Group Executive Chairman of Ardova PLC and a member of the Institute of Directors, Nigeria. He founded the Abdullateef and Sanni Foundation and also serves as the Chairman of Ignite Investments and Commodities Limited. According to the Naira metrics, he is often referred to as the "silent billionaire".
Business career
Sowami began his career with Besse Oil and Services Limited, after which he moved to Cosmos Oil Limited, and later to Ignite Energy Limited.In 2019, Hered Femi Otedola’s controlling stake of 75% in Forte Oil PLC a company founded by Otedola through Prudent Energy, which was founded in 2004 by Sowami. Subsequently, the company’s name was changed from Forte Oil to Ardova PLC in February 2020 following a stakeholders’ meeting after the acquisition.
Not long after, Enyo, which was established in 2009 and had a total of 95 filling stations across Nigeria, was acquired by Prudent Energy, owned by Sowami, with a 100% equity stake.
In 2024, his company, Ardova Plc, commissioned a new state-of-the-art lubricant blending plant in Lagos with an annual production capacity of 150 million litres and a storage capacity of 14 million litres. This milestone was announced during the AP Lubricant Distributors’ Forum, where it was emphasized that the facility aims to meet the growing market demand and strengthen partnerships with distributors. Sowami stated that the plant, capable of producing 20% of Nigeria’s lubricant needs, reflects the company’s commitment to innovation and national development.