Oando’s Profits Are Surging. Now the Oil Giant Wants to Take Its Shares Overseas

Oando Plc is seeking shareholder approval to pursue a cross-border listing of its shares on one or more foreign stock exchanges, adding an international capital-markets strategy to the energy company’s growth plans. The proposal will be considered at its 47th Annual General Meeting on September 17, 2026, subject to regulatory and listing requirements.

The proposed listing comes as Oando reports a stronger first half. H1 2026 revenue rose 19.9% year-on-year to ₦2.06 trillion, while gross profit jumped 331% to ₦101.19 billion and operating profit turned positive at ₦127.84 billion, compared with a ₦158.71 billion operating loss a year earlier. Average production increased 16% to 42,789 barrels of oil equivalent per day, while production operating costs fell 18% to $16.83 per boe.

The company is also targeting medium-term production of about 100,000 boepd, supported by 62 planned development wells and 55 well interventions.

For investors, a foreign listing could broaden Oando’s access to international investors and capital, but no specific foreign exchange or listing date has been confirmed. The September AGM approval, regulatory clearances and the company’s ability to sustain its operational recovery will therefore be key catalysts.