Oando Plc has posted a strong third-quarter performance, recording a 164 per cent rise in net profit to N210.31 billion, a development that has boosted investor confidence and ignited renewed interest in the company’s stock at the Nigerian Exchange (NGX).
Following the release of its nine-month financial results, Oando’s share price rose by 9.99 per cent on Thursday, closing at N46.80 per share—just shy of the 10 per cent maximum daily upward limit allowed on the NGX. Market analysts expect the bullish run to continue as investors respond to the group’s improving fundamentals.
According to the interim financials for the period ended September 30, 2025, net profit after tax jumped from N76.3 billion in the same period of 2024 to N210.31 billion. Earnings per share also climbed significantly to N16 in 2025, compared with N6 last year.
The group’s total assets grew from N6.43 trillion in December 2024 to N6.77 trillion as of September 2025, reflecting stronger balance sheet positioning.
Group Chief Executive of Oando Plc, Wale Tinubu, attributed the company’s impressive growth to the operational gains achieved following its acquisition of NAOC’s assets and the subsequent assumption of operatorship.
He said the takeover has been “transformational,” empowering Oando to accelerate production and improve efficiency.
“Production uptime currently stands at 82 per cent, translating to a 59 per cent year-on-year increase in crude oil and gas production, now averaging 38,121 boepd,” Tinubu stated.
“This is clear evidence of the dawn of unlocking the tremendous value our reserves possess.”
Tinubu noted that the company had made progress in stabilizing and integrating acquired operations, improving security, strengthening community relations, and resolving long-standing legacy issues.
He also revealed that Oando recovered a portion of outstanding receivables and made significant progress in renegotiating long-running legal disputes, previously considered fully provisioned.
On the trading side, Tinubu acknowledged reduced refined products demand due to the operational success of the Dangote Refinery, which has decreased Nigeria’s fuel import dependence.
Consequently, Oando is shifting strategic focus toward expanding international crude exports and structured pre-export transactions—an area in which it continues to experience strong performance.
The company also completed the first phase of its share distribution programme, delivering a 5.33 per cent dividend yield to shareholders, with a second phase scheduled for early 2026.
“As we enter the final quarter of 2025, we remain focused on strengthening our balance sheet, accelerating production growth, expanding our trading footprint, optimizing cash flows, and sustaining long-term value creation,” Tinubu added.
