Oando Reports 32% Output Growth and N3.21tn Revenue in 2025 Unaudited Results

Oando Plc, based in Abuja, Nigeria, released its unaudited results for 2025, showcasing a 32% year-on-year increase in production in its upstream business, with an average of 32,482 barrels of oil equivalent per day. The company attributed this growth to a 36% increase in crude oil production, an 11% increase in gas production, and a significant rise in natural gas liquids production.

Despite a 10% increase in profit before tax to N241.3 billion, revenue declined by 21% to N3.21 trillion compared to the previous year. The gross profit also decreased by 82% to N27.8 billion.

Oando's CEO, Wale Tinubu, highlighted the company's successful transition and integration of its joint venture operations, achieving an average production of approximately 80,545 boepd. The company also recorded a 42% increase in its crude oil cargo trade.

Oando emphasized its focus on margin quality and capital efficiency in response to evolving market dynamics, with plans to expand its global export opportunities. The company's strategic investments in upstream development and infrastructure optimization aim to drive future revenue growth.