Kachikwu inaugurates Oando’s new office complex

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The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday inaugurated Oando Plc’s new office space, called the Wings Office Complex, in Lagos.

Oando said it got the support of two South African companies, RMB Westport and Redefine Properties, who put equity in the project.

“This is the first time that both companies are investing in commercial property in West Africa; to do so shows the level of faith they have in the vision for the Wings project and Oando’s management team,” the firm said in a statement.

The oil firm said it received financing from local and international lenders, specifically RMB Bank and Standard Bank in South Africa, and Stanbic IBTC Bank in Nigeria.

According to the statement, the Wings Office Complex is home to leading brands such as Ericsson, RMB Bank and Oando employees.

Kachikwu, who congratulated Oando for the achievement, stated, “Oando has shown uniqueness as a Nigerian oil company showing support to the government and the Nigerian populace. The future is very demanding; I urge you to continue to inspire and be creative in the solutions that you proffer in your sector and for the nation.

“It is my expectation that as you move into this building, transparency will take root and you will do things in the way you are supposed to do them. There are very few companies in Nigeria that are showing the sort of strength and resilience that Oando has.”

The Group Chief Executive, Oando Plc, Wale Tinubu, said, “At Oando, passion is not only one of our core values; it drives our ambitions. The idea for the Wings Office Complex was conceived in 2009 and the building kick-started in 2013.  At the time, it seemed a lofty dream both in terms of size and the type of structure we envisaged.

“We commenced the construction of Wings at a time when the price of oil was around $100; despite the 2014 crash in oil prices to $23 per barrel, the 60 per cent devaluation of the naira and the 13-month long economic recession, we pushed on. Today, the two towers stand tall as testament to indigenous companies like Oando, who continue to lead and set the standard for excellence. The project signifies the end to a series of capital projects that we have pioneered, invested in and built.”


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