System Integration Delays Oando’s 2025 Audited Results To May 30

Oando Plc has announced that it will submit its 2025 audited financial statements and its unaudited results for the first quarter of 2026 by May 30, 2026, following delays linked to the ongoing integration of systems arising from its acquisition of Nigerian Agip Oil Company Limited.

In a notice filed with the Nigerian Exchange Limited (NGX), the company informed shareholders and the investing public that it would be unable to meet the March 31, 2026 regulatory deadline for the submission of its 2025 audited financial statements.

Oando explained that the delay stems from the ongoing migration and integration of its legacy Enterprise Resource Planning (ERP) systems with those inherited through the NAOC acquisition.

According to the company, the process has involved extensive system testing, the alignment of accounting policies, harmonisation of reporting frameworks, and the consolidation of charts of accounts to ensure consistency, accuracy, and full compliance with applicable financial reporting standards.

The company further noted that the delay is expected to remain within 45 days of the original filing deadline. Once the process is completed, the audited accounts will be presented to the board of directors for approval before being submitted to the Financial Reporting Council of Nigeria for regulatory clearance ahead of public release.

Oando further noted that the delay in publishing the 2025 audited accounts would also affect the release of its unaudited financial statements for the quarter ending March 30, 2026, as the first-quarter results cannot be filed before the audited financial statements.

As a result, both the 2025 audited financial statements and the 2026 first-quarter unaudited results are expected to be filed with the exchange on or before May 30, 2026.

The company reiterated its commitment to maintaining high standards of financial reporting integrity, transparency and timely disclosure in line with the listing rules of the Nigerian Exchange, while apologising for any inconvenience the delay may cause stakeholders.