Oando PLC Posts ₦2.78 Trillion Revenue in Nine Months Driven by Expanded Upstream Deepwater Liftings and Gas Sales
Indigenous Nigerian energy major Oando PLC has reported a 9% year-on-year revenue surge to ₦2.78 trillion for the period ending September 2026, consolidating its position following major asset acquisitions.
Executive Intelligence Brief
- ₦2.78 trillion revenue recorded in nine-month audited exchange filing.
- Crude liftings expand 14% following upstream asset operational integration.
- Lifting production costs compressed to $12.40 per barrel in deepwater operations.
- Expanded marine fuel distribution across Gulf of Guinea maritime bunkering hubs.
LAGOS, NIGERIA — Energy conglomerate Oando PLC has filed its unaudited nine-month financial results for the period ended September 30, 2026, with the Nigerian Exchange (NGX), posting consolidated revenues of ₦2.78 trillion compared to ₦2.55 trillion during the corresponding period in 2025.
The stellar performance was underpinned by a 14% expansion in net crude oil liftings from deepwater offshore fields in the Niger Delta, alongside a resilient domestic industrial natural gas distribution network serving heavy manufacturing clusters in Ikeja and the Lekki Free Trade Zone.
Group Chief Executive Wale Tinubu noted that following the strategic consolidation of upstream operating assets, the company achieved significant operational efficiencies and reduced lifting costs to $12.40 per barrel.
The company's commercial trading arm also expanded marine deliveries of low-pour fuel oil and distillate fuels into regional West African bunkering hubs, providing vital energy supplies to maritime terminals in Ghana, Côte d'Ivoire, and Togo.
Byline: Babatunde Lawal · Published: Saturday, October 31, 2026
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