July 22, 2025
Oando Plc has announced plans to raise up to N500 billion through the issuance of 10 billion new shares, as part of a strategic move to strengthen its capital base and support long-term expansion initiatives.
In a corporate disclosure filed with the Nigerian Exchange Group (NGX), the energy giant stated that the capital injection would be pursued through various fundraising instruments, including rights issues, private placements, and public offerings—subject to shareholder and regulatory approvals.
The company explained that the share issuance is aimed at boosting operational capacity, reducing debt, and enhancing investment in critical segments such as upstream, downstream, and clean energy infrastructure.
“This proposed capital raise forms part of our comprehensive funding strategy to reposition Oando as a more resilient and growth-focused energy player in the evolving global energy landscape,” the statement read.
Oando also disclosed that it will explore other financing options such as asset divestment, strategic partnerships, and debt restructuring, all designed to ensure sustainable profitability and shareholder value creation.
The board of directors has scheduled an Extraordinary General Meeting (EGM) for shareholders to vote on the proposal, with detailed terms of the issuance to be announced subsequently.
Market analysts suggest the move could bolster investor confidence in the company’s long-term prospects, especially as global demand for energy continues to shift toward innovation, diversification, and low-carbon solutions.
