Life is full of challenges. Some people struggle to overcome them, while others seem to meet every challenge with confidence. For Jubril Adewale Tinubu, billionaire head honcho of Oando Plc, he belongs to the latter class. In the last two months, it has been like a roller-coaster for the urbane Tinubu as the Group Chief Executive of one of sub-Saharan Africa’s foremost indigenous integrated energy groups. Despite the recent face off with Nigeria’s Security Exchange Commission, SEC, the oil magnate remains unruffled and unperturbed. Rather than be distracted by the moves to kick him out of his position, Tinubu is hellbent on proving naysayers wrong that he knows the Oil and Gas business like the back of his hands and getting positive result that will position Oando Plc as a world-class brand to be reckoned with remains his top priority. The Oando boss recently displayed his unrivaled wizardry when alongside his team kept Oando afloat and also put smiles on the face of the energy giants’ investors by recording a revenue of N315.4 billion for the half year ended June 30, 2019. This showed an increase of six per cent from N297.3 billion in the corresponding period of 2018. Oando ended the period with a profit-after-tax of N7.168 billion, down from N8.5 billion in 2018.
Spotlight gathered that under Tinubu, the Group has also continued its proactive drive to significantly reduce its debt and liabilities, most especially, its total borrowings after its acquisition of ConocoPhillips Nigeria in 2014.
Prior to this feat, OVH Energy, a new mega business of Oando Plc and one of Africa’s largest downstream operations, last week, broke new ground. Within two years of its operation, the company celebrated its 100 vessel berths at its Lagos Midstream Jetty and has since received over 3.8 billion litres. With all these positives, Tinubu, fondly called JAT by close friends and associates, has earned himself an appraisal title of a ‘champion extraordinaire’ whose magic wand is forever potent even when least expected.
Oil tycoon, Wale Tinubu faces challenge with gusto
