In a testament to the power of perseverance and entrepreneurship, Mr. Bamidele Samson and his wife, Mrs. Victoria Samson, have transformed their modest beginnings into a thriving conglomerate known as BOVAS & Company Ltd.
Their journey commenced with humble career starts; Mr. Samson as an architect at Design Nigeria and Mrs. Samson as a marketing staff member at Mobil Nigeria. However, fueled by ambition and determination, they embarked on a joint venture, establishing a petroleum products brokerage business. Starting small, they meticulously catered to client orders, procuring from major marketers and supplying with modest markups.
Their breakthrough came in 1980 when they ventured into the petrol station business, registering their station under the Texaco franchise, now MRS Oil. This marked the inception of BOVAS & Company Ltd, named after its founders – “Bamidele Olusegun & Victoria Adunola Samson.”
Despite facing financial challenges, including difficulties in securing loans, the couple persevered. They operated on credit, buying and transporting petroleum products, gradually expanding their operations. Their reliability and integrity earned them trust, leading to larger deals and accolades, such as the Texaco Best Dealer Award for the West Africa Region in 1990.
By 1991, they erected their first petrol station under the BOVAS brand, obtaining licenses as independent petroleum marketers. Overcoming financial constraints, they diversified their operations, engaging in bulk purchases with NNPC and expanding their retail network.
Today, BOVAS & Company Ltd has evolved into a formidable group, boasting a fleet of 300 trucks for product distribution and ownership of tank farms with a total capacity of 73,000,000 liters. They provide a wide range of petroleum products and services, including premium motor spirit, automated gas oil, and lubricants, catering to various sectors, including power generation and the rail industry.
With 185 wholly-owned petrol stations and 119 LPG stations nationwide as of January 2023, BOVAS & Company Ltd continues to expand its footprint. Their recent achievement includes the completion of a lubricant blending plant with a production capacity of 40,000,000 liters per annum.
From their modest beginnings, Mr. and Mrs. Samson, affectionately known as Baba and Mama BOVAS, have ascended to become multi-billionaires, yet maintaining a low profile in the public eye.
Reporter: Dan Madu
