Two Port Harcourt-based firms have slammed Oando PLC over N1bn debt debt as pressures of unpaid salaries, and growing pressure from creditors mount on them.
ENigeria Newspaper gathered that the two companies namely, ELC Oil and Gas and Chiefest Nigeria Limited, say the outstanding payments, linked to petroleum products supplied in 2024, have left their operations crippled, with staff welfare and business continuity severely affected.
“Oando had not thought it wise to pay the money. Banks and other financial institutions where we borrowed the money have been on our necks. We owe banks so much money. The interest on that money since 2024 has accumulatively spiked. Every kobo Oando paid us by instalment, the banks will just take everything because of the money we borrowed and used to execute the jobs for Oando,” he said.
Enebeli further lamented the personal and organisational toll of the unpaid debt, noting that staff salaries and family needs have been severely impacted.
“As we speak, things are so bad that we hardly take care of family needs. Staff have not been paid for more than seven months. Last year, I had to undergo an operation and my wife borrowed money for the surgery to save my life, yet the company I supplied goods for has refused to pay me,” he added.
The firms disclosed that they supplied Premium Motor Spirit (PMS) and diesel to the company but have yet to receive full payment nearly a year later, with some of their assets already taken over due to outstanding loans.
In a letter dated April 2, 2026, titled “Request for Immediate Payment of Outstanding Invoices,” ELC Oil and Gas demanded urgent settlement of the debt, warning of further action if ignored.
“We require that the payment be made immediately without further delay. Should this not occur, we will instruct our lawyers to formally write to you to pursue this matter or I will be at your Port Harcourt Base with my family, including my children and staff who are yet to be paid for six months now. Do well to mobilise everything and everyone at your disposal, because my family, staff and I will not leave your premises until payment is received,” the letter read.
Enebeli described the situation as unfortunate, stressing that invoices dating back to 2024 remain unsettled, leaving the companies unable to meet obligations to suppliers.
“Some of our properties have been taken over due to debt,” he decried.
He called on the National Assembly and other stakeholders to enact laws that would protect indigenous contractors from what he described as unfair treatment by larger corporations.
