Business
Wale Tinubu Engages Policymakers, Investors, others at AEW 2025
Group Chief Executive, Oando Plc, Mr. Jubril Adewale Tinubu, is scheduled to speak at African Energy Week (AEW) 2025: Invest in African Energies in Cape Town, South Africa.
Tinubu is expected to share insights into how the indigenous energy group is scaling its operations across Africa while maintaining strategic discipline and positioning itself as a key player in the continent’s evolving energy landscape.
At AEW 2025, Tinubu will engage with policymakers, investors and industry leaders to outline Oando’s vision for responsible, return-driven growth across Africa and beyond.
As the company scales its operations and seeks new investment and technical partnerships, his participation will provide a first-hand look into the strategic thinking behind one of Africa’s most dynamic energy companies.
In August 2024, Oando finalised its $783 million acquisition of the Nigerian Agip Oil Company from Eni – a move that increased Oando’s participating interests in four onshore oil mining leases-OMLs 60, 61, 62, and 63, from 20 per cent to 40 per cent. The deal nearly doubled the company’s reserve base to an estimated one billion barrels of oil equivalent, while enhancing its operational footprint and infrastructure portfolio in Nigeria. With an ambitious target to scale production to 100,000 barrels per day by 2028, the acquisition solidifies Oando’s position as a dominant force in Nigeria’s upstream sector.
Oando is also advancing its continental growth strategy through its upstream subsidiary, Oando Energy Resources (OER), which was recently awarded operatorship of Block KON 13 in Angola’s onshore Kwanza Basin.
Secured through a competitive bidding process led by Angola’s National Agency for Petroleum, Gas and Biofuels, the block carries estimated prospective resources of 770 million to 1.1 billion barrels. OER holds a 45 per cent participating interest and will lead the block’s development in partnership with Effimax and Sonangol. This marked a significant milestone for the company as it enters Angola’s upstream market for the first time and reinforces its long-term vision of regional integration.
In addition to its African ventures, Oando was recently named preferred bidder for the Petrotrin refinery lease in Trinidad and Tobago, underscoring its strategy to diversify globally while reinforcing its vertically integrated business model. The refinery opportunity aligns with Oando’s broader goals of expanding refining capacity, improving energy security and maximizing value across the supply chain.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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