In a remarkable display of resilience and strategic prowess, Oando Plc, Africa’s leading integrated energy company, has announced a strong financial performance for the full Year ended December 31, 2024.
The company’s FY 2024 results show a 45% growth in revenue to N4.1 trillion, compared to N2.9 trillion in FY 2023. This impressive revenue growth is complemented by a 9% rise in profit after tax to N65.5 billion.
According to Group Chief Executive, Oando PLC, Wale Tinubu, “2024 was a year of transformation for Oando, marked by our successful acquisition and integration of NAOC Ltd, which significantly enhanced our production capacity.”
Tinubu attributed the company’s strong financial performance to its diversified business model, strategic partnerships, and operational efficiency.
He also expressed optimism about the company’s prospects in 2025, citing positive oil demand predictions and the company’s commitment to cost optimization, operational efficiency, and sustainable development.
With this announcement, Oando Plc enters 2025 on a strong foundation, poised to build on the momentum of a successful 2024 and committed to its strategic vision of becoming Africa’s first international oil company.