Home Business Capital Oando Announces Approval Of Acquisition Of 100% Shares Of Nigerian Agip
Capital

Oando Announces Approval Of Acquisition Of 100% Shares Of Nigerian Agip

Share
Share

Oando Plc, Nigeria’s Indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange, is pleased to announce that Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of 100% of the shares of Nigerian Agip Oil Company (NAOC) acquisition.

Recall that Oando Plc announced the agreement with ENI on September 4, 2023, allowing both parties to proceed with the transaction’s completion.

The Group Chief Executive of Oando Plc, Wale Tinubu, CON, stated that the company is pleased that Eni has received the government’s approval to proceed with the completion of this strategic transaction.

He extended gratitude on behalf of the company to the Honourable Minister of Petroleum Resources and the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for their concerted efforts in ensuring the execution of the grant of consent under the novel and robust divestment framework established by the recently enacted Petroleum Industry Act

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Access Holdings Reports 82.8% Growth In Q3 PAT To ₦457.7 billion

*As Total Assets Hit To ₦41.1 Trillion   Access Holdings Plc, one...

CSCS Clinches “Capital Market Infrastructure Developer Of The Year” At BAFI Award 2024

L-R: Frank Aigbogun, Co-founder Business Day, Onome Komolafe, Divisional Head, Business Service...

United Capital Group Takes Home Five Major Awards At 2024 BAFI Awards

L-R: Group Executive Director and Chief Operating Officer, Ayodeji Adigun, Group Chief...

United Capital Grows Profit By 93% yoy

United Capital Group has further cemented its upward growth trajectory, with an...