The African Energy Chamber (AEC) endorses the ground-breaking agreement between Oando PLC and Eni for the acquisition of 100% of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd). This significant transaction holds immense potential for Nigeria’s energy sector and the wider African energy landscape. It positions Oando as a major contributor to Nigeria’s energy sector and underscores its commitment to furthering the country’s energy ambitions. Speedy approval will enable the parties involved to expedite the realization of the deal’s benefits, furthering Nigeria’s energy ambitions and attracting additional investments. “The Oando-Eni deal marks a significant milestone for Nigeria’s energy sector and underscores the potential for local participation and growth.

Source: News Business Ethiopia September 06, 2023 12:47 UTC