Oando PLC marks a significant milestone in its journey, celebrating 30 years of innovation and growth, according to the reflections of its Group CEO, Wale Tinubu. In a moment of reflection, Tinubu acknowledges the challenges and triumphs that have shaped Oando’s three-decade-long history. From its modest beginnings as Ocean and Oil to becoming a dominant player in Nigeria’s energy sector, Oando’s success is a testament to audacity and strategic vision.
Tinubu recalls how in 2000, he and his partners boldly bid for a 30% stake in Unipetrol. They were dismissed by skeptics who dubbed them “The Eaglets,” but that audacity laid the foundation for subsequent acquisitions, positioning Oando as a leader in petroleum marketing.
A New Chapter in Nigerian Oil History
Fast forward to the present: it’s been 30 days since Oando completed its most strategic acquisition yet—the purchase of Nigerian Agip Oil Company (NAOC). This acquisition is not just another transaction, but an inflection point that allows Oando to control its destiny as an integrated energy company. The whirlwind of the past month has seen Oando take charge of its new subsidiary, Oando Energy Resources Nigeria Limited (OERNL), with Tinubu as Executive Chairman. This move strengthens Oando’s leadership in Nigeria’s upstream sector.
Tinubu emphasizes the boldness of Oando’s acquisitions over the years, notably the $1.8 billion acquisition of ConocoPhillips Nigeria. With each challenge, the company has emerged stronger, consistently proving that local enterprises can thrive in the global energy industry.
First Indigenous Nigerian Company to Lead the Charge
Oando has cemented its status as a trailblazer in Nigeria’s energy sector. As the first indigenous company to acquire not one, but two International Oil Company (IOC) assets over a decade, Oando has established a new narrative for local businesses in a global market. The company pioneered private sector natural gas solutions with the construction of over 320 kilometers of pipeline, reducing reliance on diesel and offering efficient solutions to commercial customers.
A Vision for the Future
As Tinubu reflects on these achievements, he shares his vision for the future. The era of divestment has opened opportunities for Nigerian companies, and Oando stands ready to lead. “Local content” is no longer a buzzword, but a mandate—driven by Nigerians, for Nigerians. The unbreakable “Naija spirit,” combined with world-class technologies and local talent, positions Oando and its workforce—the #HumansOfOando—to shape the future.
Looking ahead, Tinubu is confident that the next 30 years will see Oando playing a critical role in Nigeria’s development. With entrepreneurship and innovation at the forefront, the company is poised to seize its destiny, both onshore and beyond.
Wale Tinubu – The Significance of ‘30’
In closing, Tinubu’s message is clear: Oando’s journey is one of resilience, tenacity, and unwavering belief in the future. The lessons learned over three decades have prepared the company for the next chapter, as it continues to build a brighter future for Nigeria and the global energy industry.
