Oando Plc, one of Africas largest energy companies, led by Nigerian energy mogul Wale Tinubu, said its nine-month revenue fell sharply as domestic fuel supplies from Aliko Dangotes 20 billion refinery began in full, reshaping Nigerias downstream oil market.
Dangote Refinery cuts Oando fuel sales
The company reported that revenue dropped by N648 billion 450 million, or 20 percent, to N2.54 trillion 1.75 billion in the first nine months of its 2025 fiscal year, from N3.19 trillion 2.2 billion a year earlier. In its statement to investors, Oando said the decline was primarily due to the reduction in gasoline imports following the ramp-up of the Dangote Refinery, which has positively improved Nigerias refined-product supply.