...Secures $375m Afreximbank financing to drive production Oando Plc, one of Nigeria’s indigenous energy groups, recorded a 267 percent rise in profit after tax in the 2024 financial year, fuelled by its acquisition of Nigerian Agip Oil Company (NAOC), a former subsidiary of Italian energy giant Eni. Data sourced from the company’s audited financial results released on Wednesday showed profit surged to N220 billion from N60 billion in 2023. “We delivered a 44 percent revenue increase to N4.1 trillion and a 267 percent rise in
...Secures $375m Afreximbank financing to drive production Oando Plc, one of Nigeria’s indigenous energy groups, recorded a 267 percent rise in profit after tax in the 2024 financial year, fuelled by its acquisition of Nigerian Agip Oil Company (NAOC), a former subsidiary of Italian energy giant Eni. Data sourced from the company’s audited financial results released on Wednesday showed profit surged to N220 billion from N60 billion in 2023. “We delivered a 44 percent revenue increase to N4.1 trillion and a 267 percent rise in