ELC Oil and Gas Threatens Protest Over N1 Billion Debt

ELC Oil and Gas Services Limited, a Port Harcourt-based firm, is threatening to protest against Oando PLC due to non-payment of a N1 billion debt for contracts executed over a year ago. The Chief Executive Officer, Mr.

Chelsea Eneb, expressed regret over the negative impact this debt has had on staff, some of whom have fallen ill and are unable to adequately care for their families due to lack of payment for nearly a year. Eneb highlighted that the company has borrowed significant sums from financial institutions to finance operations, but the high-interest rates make repayment difficult.

In a letter dated April 2, 2026, ELC Oil and Gas demanded immediate settlement of outstanding payments, warning that failure to comply would result in legal action. The situation has severely affected the families of staff members, with some not receiving salaries for six months, leading to personal crises, including medical emergencies.