In a significant move that marks a new chapter in Nigeria’s energy landscape, Oando PLC has successfully finalized the acquisition of 100% shares in Nigerian Agip Oil Company Limited (NAOC Ltd.) from Eni. The signing ceremony, held at The Peninsula Hotel in London, stands as a testament to Oando’s unwavering commitment to enhancing its position as the nation’s leading indigenous energy solutions provider.
This acquisition, which aligns with Oando’s strategic vision, is poised to strengthen the company’s footprint in the Nigerian energy sector while supporting the country’s broader energy transition goals. With this deal, Oando takes a bold step toward expanding its portfolio and advancing its mission of delivering efficient and sustainable energy solutions.
Speaking at the ceremony, representatives from both Oando PLC and Eni expressed optimism about the growth prospects this acquisition brings. “This deal is a defining moment for Oando and our stakeholders,” remarked the company’s leadership. “It reinforces our role in shaping the future of energy in Nigeria and opens up new avenues for growth, innovation, and value creation for our shareholders.”
The newly acquired assets are expected to play a pivotal role in Oando’s strategy, allowing the company to leverage these resources to better serve the Nigerian market and beyond. As the company integrates these assets, it remains committed to driving sustainable growth and contributing positively to Nigeria’s energy transition.
This milestone sets the stage for more impactful developments from Oando PLC. Stay tuned as the company continues to share updates on this transformative acquisition and its implications for the energy industry.
