Oando Plc, Africa’s leading energy solutions provider listed on the Nigerian Stock Exchange (NGX) and Johannesburg Stock Exchange (JSE) is pleased to announce that the Company has emerged winner of the ‘Deal of the Year’ award at Africa Energy Week (AEW) 2024.

The Africa Energy Chamber (AEC), the organisers of the annual week-long oil and gas conference, hosted and recognised different stakeholders at a Gala and Award night held at the Cape Town International Conference Centre (CITCC), on Tuesday, 5 November, 2024.

In a category comprising other high-profile deals in the sector and across Africa, Oando won the award in recognition of the Company’s recently completed landmark $783 million acquisition of the Nigerian Agip Oil Company (NAOC) from the Italian Energy firm Eni on 22 August, 2024.

This acquisition, 10 years in the making since Oando’s initial entry into the ConocoPhillips/NAOC/NNPC Joint Venture (JV) in 2014 when the Company acquired ConocoPhillips Nigeria business, doubled the company’s stake in the JV to 40% and operator of the assets.

In receiving the award, the Company’s Group Chief Executive, Wale Tinubu, remarked “We are delighted and honoured to receive the ‘Deal of the Year’ award from Africa Energy Week. It’s been a remarkable year on many fronts. First, we marked our 30th anniversary as a business, then concluded our strategic plan to acquire our second IOC in a decade, Nigerian Agip Oil Company (NAOC) and step up to the role of operator.

“This award is more than just an accolade for a successful deal closure; it represents a public acknowledgement of the culmination of 30 years of grit, hard work, resilience, and sheer belief in our vision. It is a testament to my belief that with the #HumansOfOando, impossible is nothing. I’d like to thank the dream team, the #HumansOfOando, our financiers, and partners for their belief and role in making this award a reality.”

The acquisition is the culmination of a decade of preparation, strategic planning, and unwavering commitment to a vision of becoming Africa’s first indigenous International Oil Company.

It is a testament to the organisation’s 30-year journey spanning the entire energy value chain, with consistent and deliberate actions at each stage that have led to the advancement of indigenous participation in the industry.

The Deal of the Year award “recognises the most transformative and impactful deal in the energy sector – honouring excellence in negotiation, strategic alignment, innovation and collaboration – and celebrates deals that drive advancements in energy and economic growth.”

With this year’s AEW theme of “Invest in Africa Energies: Energy Growth Through an Enabling Environment”, the AEC, through the AEW Awards 2024, recognised other persons, International (IOCs) and National Oil Companies (NOCs) across the continent through awards in 10 categories.

Tinubu at the event also delivered a key note address with the topic, Transforming Africa’s Oil and Gas landscape through strategic Merger and Acqusition.

During the address he noted that indigenous companies contribute approximately 30% of the country’s crude oil production and hold around 40% of the total oil reserves. Additionally, they account for 60% of the country’s gas production and approximately 32% of gas reserves. This data underscores the growing significance of local players in the African oil and gas sector.

He also highlighted improvements in the business environment, citing the improved Ease of Doing Business driven by recent reforms that have attracted increased investments in energy. Tinubu pointed to the successful Implementation of the Petroleum Industry Act (PIA), which has established a regulatory framework that enhances transparency and boosts investor confidence.

Tinubu’s remarks included a call for enhanced collaboration among policymakers, investors, and oil and gas companies to foster the growth of indigenous firms through supportive regulations, financing access, and technology transfer. He urged stakeholders to focus on leveraging M&As to diversify and expand capabilities within the sector while emphasizing the need to strengthen Africa’s institutional and financing capacity for local firms.

As Oando continues on its growth trajectory, Tinubu’s insights served as a powerful reminder of the strategic importance of indigenous companies in Africa’s energy transformation and the collective effort required to drive sustainable development across the continent.

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos has granted an interim take-over of Heyden Petroleum Limited, a company owned by the Ogun State Governor, Dapo Abiodun, over alleged insolvency.

Justice Lewis-Allagoa in suit No AMC/67/2024, granted the take-over of the petroleum company by the Asset Management Corporation of Nigeria (AMCON) after hearing the submission of an Ex Parte motion filed through its lawyers, O. T. Ogunba and I. U. Odo of Kunle Ogunba SAN & Associates, who moved the motion with a supporting affidavit and written address.

Innovative Ventures Limited and Optimum Construction & Property Development Company Limited are also affected by the interim order granted on October 29, as prayed by the AMCON’s lawyers

The judge later adjourned the hearing of the substantive suit till November 21, 2024

The Kano State chapter of the Nigerian Medical Association (NMA) has demanded the removal of state Commissioner for Humanitarian Affairs, Amina Abdullahi, over allegations of assault on a doctor at the Murtala Muhammad Specialist Hospital.

In response to the incident, the NMA is urging its members to suspend services at the hospital.

In a statement issued on Monday by NMA Chairman Dr. Abdurrahman Ali and Secretary Dr. Ibrahim Muhammad, the association asserted that the commissioner’s actions “constitute misconduct, punishable by dismissal as enshrined in Section 3(a)(0), (ii), (iv), and (v) of the Public Service Rules.”

The NMA stated that the assault, which took place on November 1 at the hospital’s Emergency Paediatric Unit, represented an abuse of power from an official expected to uphold humanitarian values.

The NMA accused the commissioner and her entourage, including security personnel, of harassing and assaulting the doctor.

The altercation reportedly arose from the unavailability of prescribed medication, a situation beyond the doctor’s control, who was managing over 100 patients single-handedly.

“The NMA Kano Branch finds it particularly disturbing that an official entrusted with the welfare of the state’s citizens would misuse their authority in this manner,” the statement read.

“Such actions not only demonstrate a lack of empathy for the hard-working healthcare professionals but also reveal a troubling disregard for the systemic challenges facing our public health sector, such as chronic understaffing, resource shortages, and security concerns for medical staff.”

The association highlighted that incidents of this nature are becoming increasingly common, placing medical professionals in unacceptable personal risk as they strive to fulfil their duties under challenging conditions.

Following an emergency meeting, the NMA resolved to take a stand, calling for the immediate dismissal of the commissioner and an increase in staffing and security at the hospital.

“The Association’s Congress has resolved to call for the dismissal of the commissioner who has demonstrated a gross lack of respect and compassion for frontline healthcare workers and a disturbing disregard for the ethical standards expected of public office holders,” the NMA added.

The association further emphasised the need for implementing the minimum benchmark for the number of doctors required to ensure adequate care, thereby preventing the extreme overstretching of medical personnel. They also called for improved security measures to protect both medical staff and patients.

The NMA has threatened to suspend medical services at the Murtala Muhammad Specialist Hospital within 48 hours if their demands are not met.

“Our decision to suspend services is difficult but necessary. Healthcare professionals should not have to work in fear. This action calls on both the government and the public to recognise the daily challenges we face in delivering care,” they stated.

The association urged the governor to address the issues promptly to avoid further disruptions in the healthcare system.

“The NMA remains committed to working with the government and all stakeholders to restore and strengthen Kano’s health system so that every resident can receive timely and quality medical care,” the statement concluded.

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