Ogasabi reports on the 9am news that Oando Plc, the indigenous energy solutions provider in Nigeria, which is listed on the Johannesburg Stock Exchange and the Nigerian Exchange Limited, is happy to announce that Eni has obtained official approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell all of the shares of the acquisition of Nigerian Agip Oil Company (NAOC).
On September 4, 2023, Oando Plc announced the agreement with ENI for the acquisition of the Nigerian Agip Oil Company, enabling both parties to move forward with the transaction’s conclusion. Oando Plc’s Group Chief Executive, Wale Tinubu, CON, expressed the company’s satisfaction with Eni’s government approval on the 9am news, allowing them to close this strategic deal. He expressed appreciation on behalf of the company to the Hon. Minister of Petroleum Resources and the CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for their coordinated efforts in guaranteeing the implementation of the consent granted in accordance with the innovative and strong divestment framework created by the recently passed Petroleum Industry Act.
For more updates on this story, stay tuned to the 9am news Nigeria with Ogasabi.
