Florence Petroleum Roars Ahead, Nationwide Franchise Expansion Targets 100 to 150 Stations by December 2027
Florence Petroleum Ltd is advancing its ambition to build a nationwide network of branded retail outlets, with a franchise strategy designed to bring independent filling stations into a coordinated petroleum supply and retail operation.
The company’s original ambition was to reach between 100 and 150 stations by December 2026. Following a review of the rollout timetable, Florence Petroleum has revised its target to 150 operational outlets by 31 December 2027, beginning with a controlled pilot involving 21 outlets.
The expansion has already recorded its first tangible milestones. According to the company’s latest update, franchise agreements have been signed for 21 retail outlets, with ten outlet already branded. Commencement of operations remains subject to securing the relevant Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) licence.
For Florence Petroleum, the initial outlets will provide an opportunity to test the franchise model in practice, assess operational performance and refine procedures before extending the network further.
Under the proposed arrangement, participating station owners bring their existing retail facilities into the Florence Petroleum network. Florence supplies Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), with a particular emphasis on petrol, while introducing common branding, sales monitoring and financial controls.
A central feature of the model is that Florence Petroleum retains ownership of supplied products until they are sold at the pump. Daily sales reconciliation and daily remittances to the company are intended to support accountability and maintain the flow of working capital needed for replenishment.
The operating framework also provides for company sales representatives at participating outlets. Their role will include monitoring sales, supporting reconciliation and helping management maintain visibility across the growing network.
Led by Chairman and Managing Director Dr. Okechukwu Henry Obi, Florence Petroleum is pursuing an expansion strategy built around partnerships with independent station owners. This approach offers a route to wider market coverage by bringing existing facilities under a shared brand and supply structure.
The longer-term ambition extends across Nigeria’s 36 states and the Federal Capital Territory. Expansion will depend on identifying suitable outlets, completing regulatory requirements, securing dependable product supply and ensuring that each participating station can meet the company’s operating standards.
The pilot phase will therefore be a defining step. Its results will help establish the pace of further onboarding and show how effectively the supply, sales and payment arrangements perform under everyday trading conditions.
With 21 franchise agreements signed and its branded outlets in place, Florence Petroleum has begun turning its nationwide vision into a visible retail presence. The next milestone is to secure regulatory approval, launch the pilot outlets and build the operating record needed to support its journey towards 150 stations by December 2027.
