Serial entrepreneur and Group Chief Executive Oando Group, Jubril Adewale Tinubu, has no doubt earned a name for himself through his visionary contributions to Africa’s economy.
It is not for mean achievement that the man is rated among Nigeria’s high- flying tycoons. The billionaire is unarguably a visionary whose contributions to the nation’s economy would forever be cherished. His record of incisive investment and vision to reshape Nigeria’s business climate remains unequal.
For Tinubu, a major player in the oil sector whose intimidating profile dwarfed many of his contemporaries, cutting deals comes as easy as a hot knife slices through butter.
Multiple times, he has proved to the world that he is indeed a genius and a cognoscenti when it comes to investment and the art of making money.
His company Oando Plc a leading indigenous energy solutions provider has entered an agreement with ENI for the acquisition of 100% of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd).
The completion of the acquisition is subject to Ministerial Consent and other required regulatory approvals.
The firm announced this in a statement today on its website.
The statement reads, “Eni announces the signing of an agreement with Oando PLC – Nigeria’s leading indigenous energy solutions provider listed on both the Nigerian and Johannesburg Stock Exchange – for the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), the wholly Eni-owned subsidiary focusing on onshore oil & gas exploration and production in Nigeria, as well as power generation.
“NAOC Ltd is present with interests in Nigeria across 4 onshore blocks (OML 60, 61, 62, 63), which it operates on behalf of NAOC JV (operator NAOC Ltd 20%, Oando 20%, NNPC E&P Limited 60%), in the Okpai 1 and 2 power plants (with a total nameplate capacity of 960MW), and in two onshore exploration leases (OPL 282 and OPL 135, respectively 90% and 48%) for which it also holds operatorship.”
The company is however not selling its 5% stake in the SPDC JV operated by Shell.
Eni to still maintain a presence in Nigeria
However, the company noted that it will still maintain its presence in Nigeria through the Nigeria Agip Exploration (NAE) and Agip Energy. It also said the transaction is in line with the company’s 2023-2026 plan
It said, “Eni continues to operate in the country focusing on operated offshore activities. Participation in operated-by-others assets, both onshore and offshore, and Nigeria LNG will remain in Eni portfolio too.”
“The transaction is consistent with the Eni 2023-2026 Plan.
“The Upstream will supplement the core organically led growth with inorganic high-grading activity, adding resources with incremental value while divesting resources that can offer greater value and opportunities to new owners.”
“The closing of this transaction is subject to, inter alia, the authorization of all relevant local and regulatory authorities.”
However, finalising the sale is subject to approval of all relevant local and regulatory authorities, it said.
Details of the deal
In a press release signed by Company Secretary, Ayotola Jagun, the acquisition would see Oando’s interests in OMLs 60, 61, 62, and 63 increase from 20% to 40%. Here’s an excerpt from the press statement…
The transaction increases Oando’s current participating interests in OMLs 60, 61, 62, and 63 from 20% to 40%.
It increases Oando’s ownership stake in all NEPL/NAOC/OOL Joint Venture assets and infrastructure which include forty discovered oil and gas fields, of which twenty-four are currently producing, approximately forty identified prospects and leads, twelve production stations, approximately 1,490 km of pipelines, three gas processing plants, the Brass River Oil Terminal, the Kwale-Okpai phases 1 & 2 power plants (with a total nameplate capacity of 960MW), and associated infrastructure.
Based on 2021 reserves estimates, Oando’s total reserves stand at 503.3MMboe and the transaction will deliver a 98% increase.
The transaction also grows Oando’s exploration asset portfolio through the acquisition of a 90% interest in OPL 282 and 48% interest in OPL 135.
NAOC Ltd participating interest in SPDC JV (Shell Production Development Company Joint Venture – operator Shell 30%, TotalEnergies 10%, NAOC 5%, 2 NNPC 55%) is not included in the perimeter of the transaction and will be retained in Eni’s portfolio.
More Opportunities for Oando
Commenting on the acquisition, the Group CEO of Oando Plc, Wale Tinubu CON said the deal would help unlock more opportunities for the energy company.
Wale Tinubu also indicated that the acquisition highlights the important role indigenous companies will play in the future of the Nigerian upstream sector. He said:
“The synergies created by this acquisition will unlock unparalleled opportunities for us to re-align expectations, enhance efficiency, optimize resource allocation, and significantly increase production.
Furthermore, it is in alignment with our strategy of acquiring, enhancing, appraising, and efficiently developing reserves. Today’s announcement is not just an important milestone for the future of Oando; it brings to bear the important role indigenous actors will play in the future of the Nigerian upstream sector.
Having achieved this significant milestone, we look forward to closing the transaction and harnessing the full potential of the enhanced platform to accrue value for our local communities, stakeholders and shareholders.”
What You Should Know
Nigerian Agip Oil Company (NAOC) is Eni’s subsidiary operating in the land and swamp areas of the Niger Delta. It operates under a joint venture agreement, popularly referred to as the NAOC JV.
The NAOC JV includes the Nigerian Government, represented by the Nigerian Petroleum Development Company (NPDC), with 60% interest. The other JV partners are NAOC (20%), and Oando (20%).
More insights
In the year 2022, these four OMLs collectively contributed 24,000 barrels of oil equivalent per day to Eni’s net production. The extracted resources are directed towards the Obiafu-Obrikom facility and the Brass terminal.
Eni further exports a significant portion of the gas produced from these licenses to the Nigeria LNG (NLNG) plant, where the company maintains a 10.4% interest.
Additionally, a portion of the gas supply is directed to the Okpai plant, and another open cycle facility located in Rivers State.
All is clearly not well within the ranks of the All Progressives Congress in Bauchi State. What should have been a defining moment for party unity and strategic positioning ahead of the 2027 elections has instead deepened mistrust, widened internal divisions and exposed dangerous cracks within the party. For an opposition party still struggling to regain political momentum in one of Nigeria’s most competitive states, the timing could hardly be worse. Rather than serving as a launchpad for renewed ambition, the governorship primary has become a stark reflection of the APC’s internal dysfunction — one that could shape its political fortunes long before voters head to the polls.
The so called Last Friday’s governorship primary, which produced former Governor Mohammed Abubakar as candidate, was expected to rally party faithful around a credible challenger for 2027. Instead, it has triggered widespread controversy and bitter reactions across the party. What ought to have strengthened internal cohesion has, in many quarters, been condemned as deeply flawed, opaque and lacking the transparency required to inspire confidence among party members. Allegations of backroom deals, imposed outcomes and the sidelining of longstanding stakeholders have rapidly evolved from whispers into open accusations the party leadership can no longer ignore. The resulting credibility crisis is not merely reputational; it strikes at the institutional foundations necessary for any serious electoral campaign.
For many observers and loyal party members, the exercise represented more than a routine internal contest. It was a test of the APC’s democratic credentials and its readiness to reposition itself after years of electoral setbacks in Bauchi. The party had a rare opportunity to demonstrate discipline, inclusiveness and a genuine commitment to internal democracy. It had the chance to show voters that it had learned from past mistakes and was prepared to offer a coherent alternative to the ruling Peoples Democratic Party. Instead, the primary has left many supporters frustrated, alienated and uncertain about the party’s direction. What should have united the APC has instead pushed it closer to fragmentation.
Concerns continue to grow over what critics describe as the complete absence of participatory democracy in favour of a forced consensus process. These concerns were reinforced by comments attributed to the endorsed candidate, Mohammed Abubakar, and by the controversial declaration of results announced by retired AIG John Abang, which many party stakeholders insist reflected a predetermined outcome rather than a credible electoral exercise.
The grievances extend far beyond the immediate contestants and their campaign teams. Ward officials, delegates and grassroots mobilisers — the very backbone of electoral politics in Nigeria — feel sidelined and betrayed after investing time, loyalty and resources into a process they believe disregarded their voices. These are the individuals who organise communities, mobilise voters and translate party messaging into electoral support. When such actors lose faith in the process, the consequences are rarely passive. In closely contested political environments like Bauchi, disillusionment at the grassroots can prove decisive.
The broader political context makes the crisis even more consequential. Bauchi has long been a battleground state where power has alternated between the APC and the PDP. Governor Bala Mohammed has significantly consolidated the PDP’s political networks and influence across the state. Against that backdrop, the APC’s most realistic path to electoral competitiveness in 2027 depended on presenting a united front, a credible candidate and a compelling alternative vision. The governorship primary was therefore not just an internal exercise; it was a strategic moment capable of defining the party’s electoral future. Instead, it has handed the ruling party an early political advantage.
More troubling still is the growing fear that unresolved grievances could trigger defections, weaken party cohesion and embolden rival political forces ahead of 2027. Nigerian political history repeatedly shows that opposition parties rarely succeed when consumed by internal divisions and leadership disputes. In many cases, electoral defeats stem less from the popularity of opponents than from unresolved internal crises allowed to fester unchecked. Bauchi itself has witnessed this pattern before, and the APC now risks repeating it.
Indeed, the party faces one of its most consequential internal tests in recent years. Influential figures across the state are reportedly disenchanted with both the outcome of the primary and the manner in which it was conducted. Quiet consultations outside official party structures have already begun — often an early sign of possible realignments. In several local governments, ward executives are said to be demoralised and uncertain about committing themselves to a process they no longer trust. If left unresolved, the fallout could cripple grassroots mobilisation, weaken fundraising efforts and push influential stakeholders toward strategic defections, political abstention or alternative alliances.
For a party serious about reclaiming political relevance in Bauchi, unity cannot remain a slogan recited at press conferences while the conditions necessary for unity are undermined in practice. Reconciliation, dialogue and genuine inclusion must now become urgent priorities. That requires more than symbolic appeals for calm. It demands credible engagement with aggrieved aspirants, delegates and grassroots structures. It requires transparent mechanisms for addressing grievances and accountability for actions that have left the party more divided than before the primary.
The 2027 election is approaching quickly, and time is not on the APC’s side. The window for reconciliation and political recovery remains open, but not indefinitely. The party must now make a clear choice: unity with all its difficult compromises, or division with all its predictable consequences.
His Excellency, the Executive Governor of Zamfara State, Dr. Dauda Lawal, has officially approved the sum of N3.2 billion for the complete renovation, accreditation, and commencementof academic activities at the Zamfara State School of Nursing and Health Sciences, located in Zurmi Local Government Area. This was confirmed in an official statement released marking a major intervention in the state’s ailing healthcare education sector, which has suffered years of neglect and infrastructural decay.
According to government sources, the funds will be channeled into three critical areas: the overhauling of lecture halls, administrative blocks, student hostels, and practical demonstration labs to meet modern standards; the settlement of regulatory fees and implementation of curriculum upgrades required by the Nursing and Midwifery Council of Nigeria (NMCN); and enabling the school to admit its first batch of students in over five years, with a focus on midwifery, community health and general nursing. Speaking on the development, the state Commissioner for Health described the approval as a new chapter in healthcare manpower development, noting that the Zurmi school has remained non-functional for nearly a decade due to poor infrastructure and loss of accreditation.
Governor Dauda Lawal is not just renovating a school but rebuilding the backbone of primary healthcare delivery in Zamfara, adding that without trained nurses and community health workers, the state’s hospitals cannot function and that this N3.2 billion investment will change the narrative.
Residents of Zurmi and prospective students have greeted the news with excitement, with many having lost hope of ever seeing the institution reopen. Governor Dauda Lawal, who has made health sector revitalization a cornerstone of his administration, was quoted as saying that his government remains committed to accessible, quality education and healthcare across all 14 local government areas of the state, adding that no Zurmi child should travel hundreds of kilometers just to become a nurse. The state government has issued a directive to the Ministry of Health and the Ministry of Education to ensure the project is completed within nine months, with accreditation visits scheduled to begin before the end of the current fiscal year.
Wema Bank has introduced a new jingle to mark the next phase of its digital banking journey, tagged the ALAT: The Evolution jingle. Designed to capture the energy of a smarter and more seamless banking experience, the jingle is bright, catchy, and full of life. It reflects a platform built to simply work, pairing sound with innovation as ALAT: The Evolution steps forward with enhanced features and a refreshed user experience.
Everyday banking can often feel routine or even stressful, with multiple steps and delays slowing things down. The ALAT: The Evolution jingle reimagines that experience with a lively and confident tone that mirrors the app’s capabilities. From voice banking with SAW to Tap and Pay and bank uptime prediction, each feature is echoed in the rhythm and flow of the sound. It brings to life the speed, convenience, and reliability that define this new phase of ALAT: The Evolution.
More than just music, the ALAT: The Evolution jingle represents a clear statement of intent. It signals a shift towards banking that feels natural, responsive, and in tune with the user. As customers update their app and explore ALAT: The Evolution, the jingle serves as a reminder that a better, smoother way to bank is already here. Wema Bank is not just evolving its technology; it is shaping how banking feels.