Nigerian oil tycoon Wale Tinubu's Oando posts $55 million nine-month pre-tax loss
Wale Tinubu's Oando posted a ₦74.7 billion pre-tax loss in the first nine months of 2026 as interest costs wiped out a recovery in operations.
Oando
Nigerian oil tycoon Wale Tinubu seeks fresh cash to cut $2 billion debt
Nigerian oil tycoon Wale Tinubu bought Eni's Nigerian oil unit. Now Oando must raise capital to cut about $2 billion of debt.
Nigerian oil tycoon Wale Tinubu wins approval to list Oando on any exchange he chooses
Oando shareholders authorised listings on any exchange. Its liabilities exceed its assets by N530 billion and debt costs exceed operating profit.
Nigerian tycoon Wale Tinubu is drilling 62 wells to more than double Oando's output
Oando's Wale Tinubu has identified 62 development wells to lift output to 100,000 barrels of oil equivalent a day from 42,789.
Oando shares fell 28% since May even as the company returned to profit
Oando shares have fallen 28% since May despite a ₦44.53 billion quarterly profit, with liabilities still exceeding assets by ₦530 billion.
Nigerian businessman Wale Tinubu's Oando swings back to profit as production jumps 32%
Wale Tinubu's Oando swung to a 204.8 billion naira profit for 2025 as production rose 32%, and the company targets higher output in 2026.
Wale Tinubu's Oando sets June 12 date for 2025 audited results after months of delays
Oando has announced June 12 as the release date for its 2025 audited financial statements, months after missing the March 31 regulatory deadline due to post-NAOC acquisition systems integration.
Oando CEO Wale Tinubu says he would rather fire a loyal employee who stopped growing than one who makes mistakes
Oando Group CEO Wale Tinubu sparked debate by saying he would fire a loyal but stagnant employee rather than one who makes mistakes but keeps growing.
Oando is raising $750 million for a 100-well drilling push that CEO Wale Tinubu says could triple the company's oil output
Oando CEO Wale Tinubu told Reuters the company is raising up to $750 million for a 100-well drilling campaign that could boost production by 300%, with the Iran war lifting investor appetite for West African crude.
Wale Tinubu's Oando PLC signs production sharing contract for Angola's Block KON-13
Oando PLC has signed a production sharing contract for Angola's Block KON-13, marking the Nigerian energy group's first move into the Angolan upstream oil market.
Wale Tinubu's Oando launches second tranche of 1.28bn share dividend plan
Oando approves over 600 million shares in second tranche of its 1.28 billion share dividend programme for investors
Wale Tinubu’s Oando grows profit 10 percent as upstream output jumps in 2025
Oando Plc posted a stronger profit in 2025 as rising oil and gas output offset lower revenue from trading shifts and strategic portfolio realignment.
Nigerian oilman Wale Tinubu predicts electric vehicles could make up half of country’s fleet within 20 years
Oando chief Wale Tinubu predicts electric vehicles could reach half of Nigeria’s fleet within 20 years as costs drop.
Nigerian energy mogul Wale Tinubu recounts $9,000 bet that became $300 million
Nigerian energy mogul Wale Tinubu recounts how a $9,000 bet grew into a $300 million gas company over decades.
Nigerian oil mogul Wale Tinubu’s Oando turns to mining with lithium exploration in Kebbi
Wale Tinubu’s Oando Plc is expanding beyond oil, launching Oando Mining to explore lithium in Kebbi and other key minerals for Nigeria’s clean energy future.
Oando links $450 million revenue loss to Aliko Dangote’s $20 billion refinery
Oando blames a $450 million revenue fall on Dangote’s $20 billion refinery as it shifts focus to crude and gas trading.