The market value of Oando Energy Plc has crossed the N1 trillion mark once again, driven by a rally in its stock price on the Nigerian Exchange (NGX). As of the latest trading session, the company’s share price rose to N81.50, reflecting a 2% increase from its previous price. This upward trend has placed Oando’s market capitalization at an impressive N1.013 trillion.

Although the current share price remains below its 12-month peak of N98.40, it is significantly higher than the company’s 52-week low of N8.30. Investors appear to be responding positively to Oando’s growth strategy and the anticipated release of its 2023 audited financial statement, scheduled for Wednesday, October 23, 2024.

Oando had previously missed the September 30 deadline to submit its audited financials, citing delays and receiving an extension from the Nigerian Exchange. The company apologized to investors and stakeholders for the delay but confirmed that it expects to file the report once it receives approval from the Financial Reporting Council of Nigeria (FRC).

With 12.431 billion shares now priced, the oil and gas giant’s valuation signals growing investor confidence in the company’s future prospects. The market will closely watch the upcoming financial report to assess Oando’s performance and outlook for the rest of the year.

As the company navigates through its reporting timeline, it continues to make strides in improving its market position, with this latest milestone marking a strong show of investor faith.