Oando Records 32% Output Growth, Hits N3.21 Trillion Revenue in 2025
Oando Plc, a prominent energy company in Africa, announced a significant 32% year-on-year increase in production output and achieved N3.21 trillion in revenue for the full year ending December 31, 2025. The growth was primarily driven by a 32% increase in average production in its upstream business, with notable increments in crude oil, gas, and natural gas liquids.
The company credited this growth to enhanced operational performance, including improved uptime and infrastructure upgrades across its operational assets. Despite a 10% rise in profit before tax to N241.3 billion, the company experienced a decline in revenue and gross profit due to changes in revenue mix favoring higher-margin products.
Wale Tinubu, the Group Chief Executive of Oando Plc, highlighted the successful transition and integration of the NAOC joint venture operations, emphasizing the company's commitment to enhancing operational efficiency and achieving its growth objectives.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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