Business
Oando Boss, Wale Tinubu’s Finesse at NOG 2022
Group Chief Executive, Oando Group, Mr. Wale Tinubu, today, Tuesday addressed the ongoing National Oil and Gas conference in Abuja. He is among other top shots in the oil and gas industry that will address the august gathering.
In his characteristic manner the brilliant oil guru mesmeris
ed the audience with his expertise and finesse that earned him deafening applause.
Oando is the Platinum sponsor of NOG Conference 2022.
Other speakers at the event are: Secretary General, OPEC, H.E. Mohammad Sanusi Barkindo, Minister of Industry, Trade & Investment, Federal Ministry of Industry, Trade & Investment
Federal Republic of Nigeria, Otunba Niyi Adebayo, Honourable Minister of State for Petroleum Resources, Dr Timipre Sylva, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Engr Gbenga Komolafe, Chairman-Board of Directors, NNPC, Sen. Margery Chuba Okadigbo, Chief Operating Officer
Oando Energy Resources, Dr. Ainojie ‘Alex’ Irune, among others.
Over the last 20 years, Nigeria’s oil and gas industry has been gathering top echelons in the industry including presidents, ministers, heads of government agencies and CEOs annually to discuss major issues, challenges and policies in the sector which is the major economic backbone of the nation.
The conference has as theme: “Funding the Nigerian energy mix for sustainable economic growth,” and ends on Thursday.
The arrival of the global pandemic led to a disparity in supply and demand for hydrocarbons, a drop in oil price and an economic crisis of unprecedented magnitude.
Oil continues to be one of the major sources for power generation. However, increasing global investment into cleaner sources of energy, volatility of oil price and the awaited clarity on the legislative framework for oil and gas production in Nigeria all highlight the need for a more diverse energy mix.
The NOG Strategic Conference will review Nigeria’s positioning within the evolving global energy landscape, with a focus on emerging opportunities to transform her energy industry through robust legislation, technology and innovation, in-country capacity development and actualize energy sufficiency targets:
The Oando CEO usually leaves his watchers and admirers enthralled by his articulation and aplomb. He is graceful in his fine grasp of business intricacies, with a very strong sense of deep erudition in discussions, especially in the area of oil and gas as well economic development in Nigeria. Also, he has deep fountain of knowledge and a shining light in the business firmament.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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