Ardova reported a loss in its nine-month financial books on the back of increased cost of sales.
The oil firm’s cost of sales climbed 37 percent to N172.8 billion in September 2022, the highest in seven years from N125.9 billion in September 2021.
Ardova's cost of sales consists of fuels (N1
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Folake Balogun
Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.
