• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Experts Laud Oando’s Acquisition Of Agip Nigeria’

by Leadership News..
2 years ago
in Business
Oando
Share on WhatsAppShare on FacebookShare on XTelegram

Some experts in Nigeria’s oil and gas sector have commended the group chief executive of Oando Group, Adewale Tinubu, for the company’s acquisition of a 100 per cent stake in Nigerian Agip Oil Company Limited (NAOC Ltd).

Advertisement

According to Femi Odunsi, an oil and gas expert, as a result of this acquisition, Oando’s stake in OMLs 60, 61, 62, and 63 will increase from 20 per cent to an impressive 40 per cent. This remarkable deal is subject to Ministerial Consent and regulatory approvals, underscoring its significance.

Odunsi said, “The AGIP acquisition represents a major leap for Oando, expanding its current interests in key assets and infrastructure. This includes forty discovered oil and gas fields, with 24 currently in production, and approximately forty identified prospects and leads. Additionally, the acquisition includes critical infrastructure such as production stations, pipelines, gas processing plants, and power plants, including the Kwale-Okpai phases 1 & 2 power plants. Based on 2021 reserve estimates, this transaction will deliver a remarkable 98 percent increase in Oando’s total reserves, bringing the total to 503.3 million barrels of oil equivalent (MMboe). Furthermore, the acquisition will bolster Oando’s exploration asset portfolio by securing a 90 percent interest in OPL 282 and a 48 percent interest in OPL 135.”

Another player in Nigeria’s oil sector, Charles Lekson, said Tinubu’s visionary leadership continues to reshape Nigeria’s energy sector, creating opportunities for growth and innovation.

He said, “As Oando Group moves forward with these transformative endeavours, the future of Nigeria’s oil and gas industry looks brighter than ever. Tinubu can be likened to a humble mustard seed that has grown into a mighty oak tree. From his early days as a determined young man with dreams of becoming a global business titan, his journey in the oil and gas sector has been nothing short of remarkable. Tinubu’s path was strewn with formidable challenges at the outset, but his unwavering courage and resilience enabled him to conquer these initial obstacles.”

RELATED

From Civic Duty To Development: The Importance Of Taxation

From Civic Duty To Development: The Importance Of Taxation

53 minutes ago
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

7 hours ago
ADVERTISEMENT

A close ally of the oil magnate who prefers anonymity said that under Tinubu’s leadership, Oando Marketing, a downstream subsidiary of the group, has grown to become the largest marketer and distributor of refined petroleum products, boasting over 650 strategically positioned service stations across Nigeria, Ghana, Togo, Sierra Leone, and other West African nations. He said, “The successful realisation of this deal could unlock fresh opportunities for Tinubu, who is already contemplating the privatisation of Oando Plc. This proposal, which has been submitted to the Securities and Exchange Commission, is designed to guide the energy conglomerate towards a path of growth after enduring a series of prolonged legal disputes.”

 

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: AgipOando
SendShare10356Tweet6472Share
ADVERTISEMENT
Previous Post

Abia N22bn Virement Not Supplementary Budget’

Next Post

Premium Pension Pays 14 Customers N216.8m For Mortgage Finance

Leadership News..

Leadership News..

You May Like

From Civic Duty To Development: The Importance Of Taxation
Business

From Civic Duty To Development: The Importance Of Taxation

2025/08/26
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability
Business

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

2025/08/26
JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance
Business

Delayed Guidelines Drag Insurance Recapitalisation Process

2025/08/25
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

2025/08/25
UBA Bank plc
Business

UBA Customers To Win N150m In Super Savers Promo

2025/08/25
Bureau Rate NIMASA High On Public Service Reforms
Business

NIMASA, Engineers Strengthen Collaboration For Blue Economy Growth

2025/08/25
Leadership Conference advertisement

LATEST

ASUU Opposes 9 Newly Approved Varsities, Threatens Strike

Carpentry College Empowers 25 Youths

EFCC Orders Arrest Of Dismissed Employee For Impersonation

Tafawa Balewa Communities Begin Repair Of Neglected Road

2027 Elections: Journalists Tasked On AI-driven Misinformation

Democracy Has Stabilised In Nigeria – NASS Clerk

Sokoto Govt Faults NBS Poverty Rating, Launches Own Survey

Bauchi, Stakeholders Back Gender Policy To End Out-of-School Children Menace

INEC Presents Certificate Of Return To Zamfara Assembly By-election Winner

IRC Empowers Borno Vulnerable Residents

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.