In a decisive move that underscores Oando Plc’s transformation from a traditional oil player into a diversified energy powerhouse, Nigerian oil mogul Wale Tinubu has launched Oando Mining, a new subsidiary focused on the exploration of lithium and other critical minerals in Kebbi State.
The announcement marks a significant milestone in Oando’s strategic shift toward clean energy and resource diversification. The company confirmed that multiple exploration programs have commenced, targeting lithium, tin, and bitumen—minerals essential to the global energy transition and electric vehicle manufacturing.
According to industry analysts, Oando’s pivot reflects a timely alignment with Nigeria’s national agenda to position itself as a key player in the global clean energy supply chain. With lithium emerging as the “new oil,” the move places Oando at the forefront of Nigeria’s race to attract investment in the green minerals sector.
This strategic leap comes amid sweeping changes in Nigeria’s fuel market, particularly following the full-scale operations of the Dangote Refinery, which has reshaped the dynamics of fuel importation and domestic trading. While Oando continues to consolidate its footprint in crude and natural gas exports, the company’s expansion into mining represents a calculated step toward long-term sustainability and reduced dependence on volatile petroleum margins.
Despite a 20% revenue decline in 2025 due to market adjustments and subsidy reforms, Oando’s profit surged by 164%, a testament to efficient management, strategic hedging, and diversification gains.
Speaking on the development, insiders close to the company revealed that Wale Tinubu’s leadership vision is anchored on “energy evolution and financial resilience.” His decision to move into lithium exploration, they said, is a deliberate response to the global shift toward renewable energy sources and the demand for battery-grade minerals.
Industry observers view Oando Mining as more than a new business line—it represents Oando’s commitment to shaping the future of Nigeria’s energy economy. The company’s broader strategy now blends hydrocarbons, renewables, and critical minerals, positioning it as a pan-African energy solutions provider ready for the next decade.
With exploration already underway in Kebbi, stakeholders are optimistic that Oando’s entry into the mining sector could catalyze local job creation, regional development, and foreign exchange inflows from the export of strategic minerals.
As the global energy landscape evolves, Wale Tinubu’s bold diversification move could well define the next chapter of Oando Plc’s growth story—one that transcends oil and embraces the power of innovation and sustainability.
Oando Plc, led by Wale Tinubu, is diversifying beyond oil with the launch of Oando Mining to explore lithium and critical minerals in Kebbi State, marking a bold pivot toward clean energy and long-term growth.
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