Oando posts N204.8bn PAT as production climbs 32%

Oando Plc, a Nigerian energy company, reported a Profit After Tax (PAT) of N204.8 billion for the fiscal year 2025, driven by a 32% increase in production. The company attributed the strong financial performance to improved operational execution and higher output. The results were announced in a press release and covered by Punch Nigeria. This marks a significant turnaround for the firm, which has faced challenges in the past including debt restructuring and operational disruptions. The production growth reflects successful investments in upstream assets and efficiency gains.

Global Impact

Economically, Oando's performance is a positive signal for Nigeria's oil and gas industry, potentially attracting foreign investment into the sector. Politically, it supports the government's narrative of improved local production amid efforts to reform the petroleum industry.