Oando grows half year revenue to N2.1trn

Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
The company disclosed this in its unaudited financial results released on Tuesday in Lagos.
It also reported an eight per cent increase in profit after tax to N68.6 billion, while gross profit surged by 331 per cent to N101 billion during the review period.
The company’s average daily production rose by 16 per cent to 42,789 barrels of oil equivalent per day (boepd), from 36,836 boepd recorded in the corresponding period of 2025.
Production growth comprised a 19 per cent increase in ...