Maximising Africa's Natural Resources in the Global Energy Transition

Wale Tinubu

Group Chief Executive Oando PLC

Mr. Wale Tinubu is the Group Chief Executive of Oando PLC, one of Africa’s leading indigenous energy groups, operating in the upstream and downstream (trading) oil & gas sector. The company has a primary listing on the Nigerian Stock Exchange and is the first African company to have a cross-border inward listing on the Johannesburg Stock Exchange.

In 2000, Mr Tinubu led the largest ever acquisition of a quoted Nigerian company, with the purchase of Agip by Unipetrol, following which the group was rebranded to Oando PLC which grew to become the leading oil and gas retailer in Nigeria. Subsequently, Oando refocused its business model to become an integrated energy solutions provider, with interests in the downstream (over 500 retail outlets and construction of the first privately owned mid-stream jetty in West Africa), midstream (construction of approximately 300km of gas pipelines serving over 100 commercial customers across the nation) and upstream sector.

In 2014, he successfully led Oando through the $1.8 billion landmark acquisition of Conoco Phillips Nigerian businesses, fortifying the company as one of the largest indigenous upstream Oil & Gas companies in Nigeria.
Between 2016 and 2019, he led Oando’s phased strategic divestment from its naira earning downstream and midstream portfolio to focus on its higher margin dollar-earning upstream assets, for a combined consideration of circa $500m. Today, the Company has 6 producing, 2 development and 6 exploration assets with a production of circa 40,000bpd. It boasts of extensive infrastructure including ~22,500km2 of combined acreage, 1,255km pipeline network, over 483,000bpd and 3,600 mmscf/d of oil & gas handling capacity, and 3.5 mmbbls terminal capacity.

In 2021, Oando Clean Energy Limited was founded to deliver green and renewable energy projects as well as develop infrastructure towards the realization of Africa’s energy requirements in line with the United Nation’s Race to Net Zero.

He has been recognised with numerous awards as well as been the subject of numerous articles, case studies and books.

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