Business
Jubril Adewale Tinubu Celebrates Landmark NAOC Acquisition
Jubril Adewale Tinubu marks one year since the historic NAOC acquisition, transforming Nigeria’s oil and gas sector and driving economic growth
Jubril Adewale Tinubu marked a historic milestone exactly one year ago, when Nigerians woke up to the news that would forever change the nation’s oil and gas sector.
Also read: Salute to a Champion Extraordinaire, Jubril Adewale Tinubu at 58
The Oando Group CEO’s acquisition of 100 percent shareholding in the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni signaled a new era for Oando and the Nigerian energy landscape.
Speaking about the achievement, Tinubu described it as “the culmination of 10 years of hard work, resilience, and an unwavering belief” that the ambition could be realized.
“It is a win not just for Oando, but for every indigenous energy player as we take our destiny in our hands,” he added.
The acquisition has positioned Oando as a clear leader in the sector, while also reshaping Nigeria’s oil and gas industry and boosting the national economy.
Over the past year, Oando has achieved remarkable progress: long-dormant pipelines are back online with uptime consistently above 90 percent, and critical assets across four states—including twelve flow stations, two power plants, and one of the largest gas processing hubs in Nigeria—are delivering uninterrupted value.
Tinubu attributes this success to collaboration and commitment: “None of this happened by chance. It took the trust of investors, financiers, regulators, host communities, and the unwavering commitment of the Humans of Oando.
Thanks to their support and trust.” He praised his team for their audacity, resilience, sacrifice, passion, and persistence, declaring, “The future is bright.”
Over three decades, Jubril Adewale Tinubu and his partners have maintained Oando’s preeminence by constantly innovating and providing value-added services through the company’s many subsidiaries.
Also read: Oando Boss Adewale Tinubu Receives Energy Times Award
This milestone underscores their vision and relentless effort to drive national development and economic growth.
Nigeria’s entrepreneurial potential deserves investment—and the support to turn ideas into growing businesses.
Through Boost Africa, the European Investment Bank (EIB), together with the African Development Bank (AfDB) and with EU support, is strengthening entrepreneurship and innovation.
By supporting venture capital investment and providing technical assistance, Boost Africa helps African businesses, including those in Nigeria, access capital, expertise
and networks to grow and reach new
markets.
Meet one of the businesses behind the Boost Africa story. Hear Daya’s
co-founders, Tomiwa “Aleph” Lasebikan, and Paul Joe share the company’s journey and ambition to connect African businesses to global markets.
▶️ Watch Daya’s Boost Africa story:
NISO power generation has fallen as gas shortages and low reservoir levels constrain thermal and hydroelectric plants, worsening supply nationwide
Boost Africa Daya highlights how investment is supporting Nigerian fintech innovation and easier cross-border payments for African businesses
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