Oando Wins ‘Deal of the Year’ Award for $783 Million NAOC Acquisition

Oando Plc has received the esteemed “Deal of the Year” award at Africa Energy Week, celebrating its $783 million acquisition of Nigerian Agip Oil Company (NAOC). This acquisition marks a major milestone in Oando’s 30-year journey, strengthening its role as a significant player in Nigeria’s oil and gas sector. This is Oando’s second acquisition of an international oil company (IOC) asset in the past decade, further aligning with its strategic goal to expand and enhance operational capacity.

Wale Tinubu, Group Chief Executive of Oando Plc, expressed pride in the recognition, describing the acquisition as more than just a deal—it reflects three decades of commitment, resilience, and the dedication of the #HumansOfOando team. Tinubu, on his official X handle, extended his appreciation to the team, partners, and financiers for their vital role in realizing this vision.

“This award is more than just an accolade for a successful deal closure; it represents a public acknowledgement of the culmination of 30 years of grit, hard work, resilience, and sheer belief in our vision. It is a testament to my belief that with the #HumansOfOando, impossible is nothing. I’d like to thank the dream team – the #HumansOfOando, our financiers, and partners for their belief and role in making this award a reality,” Tinubu tweeted.

Oando’s strategic acquisition positions the company as a key operator of one of Nigeria’s leading oil assets, cementing its influence in the African energy landscape.