Oando PLC has released its 2023 financial report, spotlighting the company’s recent acquisition of Nigerian Agip Oil Company (NAOC) Ltd as a transformative step. The acquisition brings significant reserves and an extensive infrastructure network to Oando, marking a new era of growth.

Wale Tinubu, Group Chief Executive of Oando PLC, emphasized the importance of this acquisition, describing it as a “pivotal moment” for the company. “Our immediate focus now shifts to a seamless integration and execution of initiatives towards achieving a marked increase in production,” Tinubu stated, expressing confidence in the potential this acquisition offers.

With the new resources and infrastructure, Oando aims to enhance its production capabilities and drive sustainable growth. Tinubu affirmed the company’s commitment to creating long-term value for all stakeholders through this strategic expansion.