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After Working for Years,
They Decided to Set up a Business.
They then Started a Petroleum Products Brokerage Business,
They were Taking Client Orders,
Buying from Major Marketers and Supplying with Little Markups,
They Continued Till they Rented a Petrol Station in 1980,
They Registered the Petrol Station as a Franchise Under Texaco (now MRS Oil).
This was the Birth of BOVAS &
Company Ltd,
BOVAS Stands for
“Bamidele Olusegun & Victoria Adunola Samson”.
They had Challenges with Funding,
They Couldn’t get Loans,
They Bought Petroleum Products on Credit,
Transported them on Credit,
Sold and Repaid.
They Still Continued with their Brokerage Business on the Side,
As they were Having Bigger Deals Due to Growing Trust and Assurance of Reliability,
Stemming from the Fact that they Were Running Service Stations.
In 1990 they Won the Texaco Best Dealer Award for West Africa Region for their Outstanding Sales Performance, Marketing Innovations & Customer Relations.
By 1991
They Built their First Petrol Station Under the BOVAS Label,
They were Licensed as Independent Petroleum Marketers,
But Still they were too Financially Constrained to Import Petroleum Products,
They Started Bulk Purchasing with NNPC while Expanding their Retail Network.
BOVAS & Company Ltd has Grown Into a a Group of Formidable Entities.
From Buying on Credit and Selling with Slim Margins to
Owning a Fleet of 300 Trucks Hauling their Products to their Respective Customers as well as their Outlets.
They’re Major Dealers of Premium Motor Spirit(PMS),
Automated Gas Oil(AGO),
Dual Purpose Kerosene
(DPK ; Household Kerosene-HHK & Aviation Fuel- JET A1).
They also Provide Hydraulics,
Compressor Oils, Turbine & Locomotive Fluids for Gencos and the Rail Sector.
They Operate Tank Farms with Total Capacity of 73,000,000 Litres,
With their Gantry Dispensing 10,000,000 Litres of Petroleum Products Daily,
Their Loading Bay Holds 500 Trucks Per Time &
Can Load all 500 Trucks in 30 Minutes,
Both theirs and for Other Marketers/ Transporters.
They Utilize 40,000,000 Litres of their Tank Farms for their Merchandise,
While the Remaining 33,000,000 Litres are on Daily Rent at N5 Per Litre.
Their Jetty has Capacity to Hold 2 of their 8 Large Oil Vessels Per Time.
As of January 2023 they Operate 185 Wholely Owned Petrol Stations Nationwide,
With 119 LPG Stations.
They Completed a Lubricant Blending Plant with Production Capacity of 40,000,000 Litre Per Annum.
From their Humble Beginnings,
Baba & Mama BOVAS have Become Multi Billionaires,
Yet Very Reclusive.
Dan Madu.
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