With over 12 million vehicles plying Nigerian roads, fuel will remain a major determinant of the energy mix for a longer time than anticipated, which is why Vindi Petroleum is adopting a novel approach to ensure availability and affordability of products at all times. Its Executive Chairman, Victor Kalu, insists that the company’s vision is for most Nigerians to own a pump, rather than an entire station and to realise that vision, it is unveiling a public offer to enable Nigerians to invest in its PMS vessel initiative with N455,000 and earn up to 132 percent return on investment yearly
By Edu Abade
In spite of clamour by global environmentalists and climate crusaders to transition from fossil fuels and embrace green or renewable sources of energy, President of the United States of America, Donald Trump had cried “Drill, America Drill” prior to his inauguration as the 47th president of the US on January 20, 2025.
Trump’s drilling message has since heightened suspicion that countries of the Global North have been paying, but only a lip service to their commitment to climate talks, which further resonates with assertions by the fossil fuel industry players that crude oil and gas will remain a major determinant of global energy mix well beyond 2050.
In this regard, Executive Chairman of Vindi Petroleum, Victor Kalu, has disclosed plans by the petroleum marketing firm to ease access to products retailing and provide affordable access solutions to millions of Nigerians in the belief that petroleum products will remain with us for a long time to come despite the preference for Electric Vehicles (EVs).
Kalu, who stated this at an interactive session with members of the Association of Maritime Journalists of Nigeria (AMJON) in Lagos, highlighted the company’s commitment to easing the burdens faced by Nigerians due to rising fuel costs and transportation expenses, insisting that with over 12 million vehicles in the country (as against projected 1 million EVs globally this year), fuel will remain in use for a longer time.
He pointed out that the current economic realities necessitate innovative solutions that can help bridge gaps in energy distribution and affordability, saying: “In Nigeria today, the cost of goods and transportation has skyrocketed, directly linked to the rising cost of fuel. People are struggling to survive, and we cannot afford to stand by and watch.
“At Vindi Petroleum, we are driven by the need to address this issue, not for personal gain, but for us to impact the Nigerian economy positively.”
He outlined Vindi Petroleum’s innovative approach, highlighting the Own a Pump franchise, which allows individuals to own and operate a single pump instead of an entire station. This initiative, launched last year, he said, has made petroleum retailing accessible to ordinary Nigerians, who previously lacked the financial capacity to venture into the industry.
He said: “Last year, we set out to expand our footprint by introducing the Own a Pump franchise, a groundbreaking innovation in petroleum retail.
Traditionally, opening a petrol station required capital ranging from N100 million to N2 billion, effectively locking out ordinary Nigerians from entering the oil and gas industry. This exclusivity led many to believe the sector was controlled by a select few with deep pockets.
“We disrupted this norm by offering a model that allowed individuals to own and operate a single pump instead of an entire station, making retailing accessible to everyday Nigerians. The initiative gained massive traction, and our branches multiplied rapidly. Despite the skepticism, our programmes were oversubscribed nationwide, proving the demand for a more inclusive approach to fuel distribution.”
“This year, we are taking it a step further with a new vision. Just as we defied expectations last year, we are confident in our ability to achieve even greater impact in democratising the oil and gas sector. That is why I’m sharing our vision and plans for 2025 and invite more Nigerians to partner with us on this journey,” he added.
Kalu further affirmed that the company plans to build on its success with the launch of FuelYapa, an online platform enabling consumers to order fuel and pick it up at partner stations nationwide. The platform, which boasts over 1,000 partner stations, aims to simplify fuel distribution and cut out middlemen to make petroleum products more affordable.
“With FuelYapa, consumers can order fuel online, reserve it at any of our partner stations across Nigeria, and even have it delivered to their homes or offices through our PetrolKeg service. This is a first-of-its-kind solution in Nigeria,” Kalu stated.
The company also announced a bold target of distributing one billion liters of fuel this year through its platform. To achieve this, Vindi Petroleum is working with independent marketers, securing supplies from major producers, and rolling out a private offer that allows Nigerians to invest in petroleum distribution.
“Our private offer allows Nigerians to become stakeholders in fuel distribution. With only N455,000, individuals can invest in our PMS vessel private offer and earn a return of up to 132 percent per annum. This is not just business; it is an opportunity to empower Nigerians to become petroleum moguls.
“We are ambitious and we are offering Nigerians a private offer with a 50 percent discount than when investors walk into our stations. We want Nigerians to participate in our private offer. Each vessel comprises 2 million litres. We want to bring in as many people as possible.
But investors can participate because what that means is that we have 500-litre lots, 1,000-litre lots and 5,000-litre lots. But the private offer is exclusively for only 5,000 lots, which will be given to a petrol station that needs it with a certification and what it does is that they become petroleum gurus,” Kalu explained.
He stressed the importance of sustained competition in the country’s energy market to guarantee accessibility and affordability, citing the limited reach of existing players like NNPC stating: “We want to be a viable alternative, ensuring fuel accessibility in underserved areas. This is why we need the media to help amplify our message and drive national support.”
Kalu concluded his address by urging journalists to go beyond reporting and actively support initiatives geared towards addressing Nigeria’s economic challenges, adding: “We need your support, as the media has the power to shape public opinion and attract the necessary partnerships to make this vision a reality.”
The AMJON meeting ended with a commitment from journalists to engage more deeply with stakeholders in the maritime and petroleum sectors, reflecting a shared goal of addressing the country’s pressing economic issues.
