Nigerian mogul Wale Tinubu’s Oando secures $800-million deal for strategic oil assets acquisition
This strategic move is set to play a pivotal role in the acquisition of a 20-percent participating interest in the Nigerian Agip Oil Company.
This strategic move is set to play a pivotal role in the acquisition of a 20-percent participating interest in the Nigerian Agip Oil Company.
Wale Tinubu, a top figure in the Nigerian energy sector, owns an indirect stake in Oando Plc through his 66.67 percent stake in OODP.
Tinubu’s stake in Oando is held indirectly through his ownership of 66.67 percent of Ocean and Oil Development Partners (OODP).
Tinubu, a towering figure in the Nigerian energy industry, who owns 66.67 percent of Ocean and Oil Development Partners (OODP), has an indirect stake in Oando.
Tinubu emphasized that this announcement underscores the indispensable role played by indigenous companies in Nigeria’s upstream sector.
In November 2005, Oando shares were listed on the JSE.