Nigerian Tycoon Wale Tinubu Advocates for Robust Oil & Gas Sector at Guyana Energy Conference

Nigerian energy billionaire Wale Tinubu, CEO of Oando Plc and Chairman of Oando Energy Resources (OER), took center stage at the ongoing Guyana Energy Conference, demonstrating Africa’s global energy leadership.

Tinubu addressed industry executives and stakeholders under the theme “Upstream Activities Required for a Resilient Oil and Gas Value Chain,” highlighting the importance of creating suitable circumstances for the oil and gas industry’s growth.

Tinubu reflected on his keynote address, saying, “At the Energy Guyana Conference and Supply Chain Expo, I welcomed esteemed dignitaries including President Dr. Mohamed Irfaan Ali of Guyana, Prime Minister Dr. Keith Rowley of Trinidad and Tobago, and Minister of Petroleum Stuart R. Young of Trinidad and Tobago to our exhibition booth.” We addressed Oando’s critical role in altering Nigeria’s energy landscape, as well as the possibilities for effective collaboration in Guyana.”

Wale Tinubu, one of Nigeria’s wealthiest individuals, has been instrumental in propelling Oando to become an international energy conglomerate operating in the upstream, middle, and downstream sectors. The company’s listings on the Nigerian Exchange and the Johannesburg Stock Exchange demonstrate its regional and worldwide reach.

Tinubu’s influence extends beyond Oando’s operations, as seen by his indirect ownership share in Ocean and Oil Development Partners (OODP), a joint venture with Omamofe Boyo. OODP owns a huge 66.67 percent stake in Oando, demonstrating Tinubu’s significant influence in Nigeria’s energy market.

In October, Wale Tinubu led Oando to sign a memorandum of understanding (MoU) with FuelCell Energy, a US-based company, to support renewable energy in Nigeria.

The agreement, signed during a roadshow organized by the USAID Mission in Nigeria and supported by US government initiatives Prosper Africa and Power Africa, is a significant step forward in expanding renewable energy solutions in Nigeria.

Oando’s takeover of Italian-owned Nigerian Agip Oil Company (NAOC) aims to change the country’s oil and gas sector. This move, subject to ministerial assent and regulatory approvals, will increase Oando’s ownership in OMLs 60, 61, 62, and 63 from 20% to an astonishing 40%.

At the Intra-African Trade Fair (IATF) in Cairo, Oando Plc, chaired by Wale Tinubu, signed a $800 million deal with the African Export-Import Bank (Afreximbank).

As Wale Tinubu leads Oando through innovative collaborations and strategic investments, his advocacy for Africa’s energy potential resonates strongly on a global scale, creating narratives of growth and sustainability in the sector.

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