Oando Plc has recorded a 164% increase in net profit, reaching N210.31 billion in the third quarter of 2025, highlighting the growing strength of Nigeria’s leading indigenous energy group.

The nine-month report, released on the Nigerian Exchange (NGX), saw Oando’s shares rise 9.99% to N46.80 per share, just below the daily maximum allowable change, as investors reacted positively to the company’s performance.

Key financial highlights for the nine months ended September 30, 2025, include:

• Net profit after tax: N210.31 billion, up from N76.3 billion in Q3 2024.
• Earnings per share (EPS): N16, compared with N6 in the same period last year.
• Total assets: N6.77 trillion, up from N6.43 trillion at December 31, 2024.

Commenting on the results, Group Chief Executive Wale Tinubu said the group’s performance was boosted by its acquisition of NAOC’s assets, which enhanced production capabilities and operational efficiency.

“Production uptime currently stands at 82%, translating to a 59% year-on-year increase in crude oil and gas production, now averaging 38,121 barrels of oil equivalent per day (boepd). This demonstrates the beginning of unlocking the tremendous value of our reserves,” Tinubu said.

He highlighted strategic milestones achieved during the period, including:

• Integration of operations and strengthening of security and community relations.
• Partial recovery of longstanding receivables and progress in renegotiating legal matters.
• Shift in trading focus to global crude exports due to reduced domestic refined product volumes following the Dangote Refinery’s success.

Tinubu also noted that Oando executed the first tranche of its share distribution programme, delivering a 5.33% dividend yield, with the second tranche planned for early 2026.

“As we enter the final quarter of 2025, we remain focused on strengthening our balance sheet, accelerating production growth, expanding trading operations, optimizing cash flows, and sustaining long-term value creation,” he added.

The report underscores Oando’s growing financial and operational resilience, positioning it strongly in the global energy market.