To his inner circle, they will not hesitate to tell you about energy tycoon, Jubril Adewale Tinubu’s prodigious traits. For the Oando Plc honcho, he is definitely not your run-off-the-mill businessman. Tinubu loves to dream big and follow it till he actualises it. His astute enterprise acumen have allowed him to navigate the complexities of the Nigerian, nay African energy market and foster collaborations with leading international companies. Not done yet, he is once again making waves within Africa’s economic landscape with a brand new strategic acquisitions.
Last week, Tinubu led his team at Oando to record another historic milestone as they sealed a monumental deal with the Italian energy giant, Eni for the acquisition of 100% shares of Nigerian Agip Oil Company Limited (NAOC Ltd). At the signing ceremony held at The Peninsula Hotel in London, Tinubu shone like a new penny as he cements Oando’s position as Nigeria’s leading indigenous energy solutions conglomerate.
The corporate lawyer turned oil man was visibly happy as the deal he incubated last year September finally hatched within a year. Spotlight learnt that when the highflying tycoon made the move for this acquisition —valued at a whopping $783 million— many naysayers sneered at him and likened it to an attempt at building a castle in the air. But these harsh contumely propelled Tinubu to see to the successful end of the deal already described as a game-changer for Nigeria’s energy landscape. He methodically sought the approval of all the necessary regulators and supervising ministry plus the needed funds to finance the acquisition. Less than a year later, Tinubu and Oando are set to play a pivotal role in this next phase of the nation’s upstream evolution as well as lead his company into a new era of success and sustainability.