Oando Plc posts N74.65 billion pre-tax loss in 2026

Oando Plc (NGX: OANDO) recorded a pre-tax loss of N74.65 billion for the nine months ending September 30, 2026, a decline from a pre-tax profit of N19.46 billion in the same period of 2025. This loss was attributed to high net finance costs amounting to N235.23 billion, which overshadowed a recovery in operating profit.

The company's unaudited consolidated financial statements, filed with the Nigerian Exchange on October 30, 2026, indicated a revenue increase of 9.23% to N2.78 trillion from N2.54 trillion. Oando reported an after-tax profit of N106.45 billion, supported by an N181.10 billion income tax credit, although this was 47.12% lower than the previous year's N201.31 billion.

The Exploration and Production segment saw revenue growth of 58.5% to N553.64 billion, while the Supply and Trading segment's quarterly operating loss widened to N31.85 billion. Oando reduced its borrowings by 19.8% to N2.16 trillion, reflecting substantial loan repayments during the period.