Wale Tinubu’s enviable height
Isaac Oguntoye
Oil mogul and Group Chief Executive Officer of Oando Plc, Adewale Jubril Tinubu, has always proves his vast experience in business with uncommon brilliance and wizardry. So, when he promised Oando shareholders at the beginning of 2018 that; he would move the leading Oil and Gas company to an enviable height, many did not doubt his competence.
He always delivered far above expectation and today, he has not only fulfilled his promise, he has lifted Oando far above its competitors. The continued increase in oil prices and sales volumes, Nigeria’s exemption from the production cut by the Organisation of Petroleum Exporting Countries (OPEC), capital discipline and reduced disruptions on production activities in the Niger Delta are contributing factors to the improved cash flows and impressive results posted by Oil and Gas companies operating in Nigeria in the third quarter of 2018. Underlining how far both majors and indigenous companies have come since oil prices plummeted in 2014, Oando Plc recently posted its nine-month ended September 2018 results, with a profit of N10.4 billion, a 46% increase, compared with N7.1 billion in the same period of 2017 and a 70% reduction in debt.
With this the trained lawyer no doubt, is a glittering star in the business firmament, however, he is not resting on his oars. Tinubu, as gathered is globetrotting and rubbing shoulders with other top oil magnates across the world. Penultimate weeks he was among oil top players at the Africa Oil Week in South Africa while he was also one of the key speakers, among other world leading oil companies CEOs at the just concluded Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2018.
