Since Bola Ahmed Tinubu, Nigeria’s newly sworn-in president’s inaugural “Subsidy is gone” statement, citizens have been contending with an astronomical increase in pump price and cost of transportation.

Prices of other commodities have increased significantly, just as economists and business analysts continue to dissect the impact of the president’s three-word utterance.

Experts have also criticised the government’s decision to remove subsidy without first putting palliatives in place to cushion the resultant effects.

Interestingly, and beyond the direct impacts Tinubu’s statement has had on the common man, operators in Nigeria’s oil and gas industry might be taking advantage of the situation at hand.

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For instance, Ardova Plc (AP), a major oil and gas company in Nigeria, has capitalised on the new policy to defraud its dealers of several millions of naira.

ORIGIN

Between May 3 and 4, and just like hundreds of dealers operating under the AP franchise, Mary Alabi (not real name), made a total payment of N16 million to AP, ordering two trucks of petrol to be supplied to her station during the period.

To Alabi’s shock, the timeframe she expected the supplies to make it to her station elapsed without AP honouring its own end of the agreement.

At first, she thought AP’s decision not to supply the fuel was a mere glitch that would be sorted out. With time, however, what she thought was a mere bleep turned out worse.

“Many dealers under Ardova Plc made different payments to the company, hoping to be supplied fuel in early May,” Alabi told FIJ.

“Personally, I paid AP for two trucks, which was about N16 million at the rate of N173 per litre, for product supply during the period.

“Now, this is not just about me. So many other dealers made payments during the same period as well; some paid for three trucks; some paid for four.

“After several dealers had made payments, Ardova Plc did not supply us the fuel we paid for. Whenever we reached out to them, they would give us excuses, saying that they were low on stock.

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“While they were giving us these excuses, they were steadily supplying fuel to the filling stations that were directly under their control. I mean regular supply.”

On May 22, Alabi said AP eventually asked the affected dealers to come for their supplies.

“On May 22, they came to us to say that we could come for the fuel we had already paid for at MENJ, a depot,” said Alabi.

“In fact, some of us had already got our trucks into the pickup area and were on the queue. We had already collected tickets, waiting to load, but this went on for days and AP would still not give us our orders.

“We already got tickets but we could not pick up products. These trucks remained stuck for days at the loading point.

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“Shockingly, after the new president made the subsidy removal announcement on My 29, Ardova suddenly told us that the payment we made in May, and the tickets they gave us to allow us get fuel at the rate of at N173, were no longer valid. They went on to say that we would have to add to our initial payment.

“In the end, they said we were to add to the payment for us to be able to get the product at the rate of N470 per litre, which was going to be about N22 million.

“It also meant that we would be paying a differential of N13 million. This was after we had paid three to four weeks before the president’s announcement. And we categorically knew and saw the way AP was supplying the fuel stations directly under its control during the period.

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“Till we speak, it is only the AP-controlled fuel stations that sell fuel to customers.”

DEALERS WHO SECURED LOANS TO RUN THEIR BUSINESSES

Another dealer, who asked not to be named, told FIJ that he secured a bank loan to make payment in May with the hope that AP would supply him fuel.

“This is so frustrating. This has been going on for over a month now and AP has refused to give us the product we paid for,” the dealer said.

“We made the payment in early May, first week in May to be precise. Now, I had to borrow the money I use for the business from banks. After we made the payment, AP first told us that they had no product on ground. They never told us this before we made payment.

“Interestingly, all through the period they said they had no product, they were steadily supplying the fuel stations they directly controlled with products. We visited a few of these stations to confirm this ourselves.

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“After several weeks of not supplying us fuel, they eventually gave us ticket around May 22 to come and load fuel. In the end, we were unable to get fuel just as AP had promised.

“We were still on the matter when the new president got sworn in. The moment it was announced that subsidy had been removed, AP capitalised on the announcement and told us to pay an outrageous amount in addition to the amount we had paid in early May.

“Why can’t they just supply us the product we had earlier paid for in May before asking us to pay the newly increased amount? This is nothing but fraud.”

Just like Alabi, the dealer said he had made payment for two trucks to AP on May 3.

“I don’t know how AP wants to do it, but they must supply us based on the old amount we paid to them first. I am an elderly man, and I know what I went through before I could secure the loan I used in paying for the supply in May.

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“Presently, I am steadily paying interest on an amount that is hanging with AP. Help me make sense of the situation. Is this not an unfortunate situation?

“Now, here is the interesting part: I am not the only dealer that secured loan from the bank to pay AP for supplies; I have very many colleagues who are also currently suffering from AP’s ill-treatment.

“As a matter of fact, we are over 400 dealers suffering the same fate as we speak. Where does AP want me to get the additional N13 million from? They should first supply us for the payment we made in May. After that, we can now deliberate on the way forward.

“AP can not continue to hold on to people’s monies and not say anything. It is unfair. They have even not called a meeting since then to address everyone affected by their action. It is so unfair.”

When the dealer was asked about the number of dealers affected by AP’s actions, he said they were more than 400.

“You can imagine someone collecting an average of N7.5 million each from dealers that are more than 400 in May and keeping mute over product supply since. Is that fair?” asked the dealer.

DEALERS’ FUEL STATIONS SHUT

FIJ visited two AP filling stations in Lagos; one run by a dealer in Bariga, and another directly run by AP in Alapere.

Just as the dealers had claimed, the filling station run by a dealer in Bariga had no fuel to sell to customers.

Its gates were shut to customers and there were no signs to show fuel was being sold to customers from within. The only other notable feature from within the station were the cars, numbering up to nine, that were parked at the station without persons inside them.

In Pako, a location along Lagos-Abeokuta Expressway, the dealer-controlled filling station was also closed to customers.

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Unlike the filling station in Bariga, the situation was different at the AP-controlled station in Alapere. Vehicles were seen making their entries into the station and getting fuel sold to them. Buying and selling was hitch-free at the station. Fuel was also sold to customers at N490 per litre.

BUSY CEO

When FIJ phoned Olumide Adeosun, AP’s CEO, on Wednesday, he said he was quite busy and that he would call back.

“Can I call you back? This is a terrible time to talk,” Adeosun said, ending the call.

A text message was subsequently sent to him on the same day, detailing the reason behind FIJ’s call, but he never responded to it.

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FIJ called Adeosun five different times on Thursday but his phone number was busy throughout.

A second text message was sent to him, with a request to know when he would be available to entertain questions. Just like the first text message, it got no response.

AP CALLS FOR EMERGENCY MEETING WITH DEALERS

When AP executives eventually sensed the aggrieved dealers had lost patience and were beginning to talk to the media about the development, AbdulWasiu Sowami, company chairman, invited the dealers to an emergency meeting to address the matter on Thursday evening.

“At the meeting that had most of the company’s executives in attendance, the chairman apologised to all the aggrieved dealers present,” a third dealer, who also wished not to be named, told FIJ.

“He also said AP’s inability to dispense fuel to us in May was solely NNPC’s fault, because it was NNPC that prevented AP from distributing the product to its dealers on time.

“The chairman also said the NNPC insisted that the product would have to be picked up by AP at the newly stated price.

“All the dealers present reacted to the chairman’s latest comment, asking to know why this development was not communicated to them all the while.”

The dealer went on to tell FIJ the resolution that was eventually reached.

“It was eventually agreed that due to the prevailing circumstances, we still wouldn’t be able to get the products we ordered for in May at the rate of N173 per litre,” the dealer said.

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“AP added that we would still have to buy the product at the rate of N470 per litre. The only difference, however, would be that, this time, we would be afforded credit facilities to cover for whatever debt we might incur after buying the product at the rate of N470 per litre.

“As far as loading of trucks from the depot is concerned also, AP has offered to get trucks that would load products for us at the rate of N8 per litre instead of the N12 rate we were used to paying in the part.

“Remember, while paying in May, we as dealers had hoped it would be supplied to us at the rate of N173 per litre; no one saw the sudden removal of subsidy coming.

“We were already owing banks even after paying for the product to be supplied to us at N173. Now, we would also have to become debtors to AP as well after buying at the rate of N470.

“All we just want is a way out and I think we are beginning to see the light appear at the end of the tunnel.”