Oando’s $783m NAOC Acquisition Wins Continental Recognition
Oando’s acquisition of Nigerian Agip Oil Company (NAOC) from Italian energy company Eni has won the ‘Domestic Impact Deal of the Year’ at this year’s IFLR Africa Awards held in Cape Town, South Africa.
In August, Oando announced the successful completion of the acquisition of 100% of the shareholding interest in NAOC for a total consideration of $783 million.
“Oando has achieved yet another milestone by winning the Domestic Impact Deal of the Year at the prestigious 2025 IFLR Africa Awards. This award recognises our landmark acquisition of the Nigerian Agip Oil Company, a feat that we can all take pride in,” the company said on social media platform X on Thursday.
The company said it was also nominated for ‘In-House Legal Team of the Year: Energy’ and ‘Deal of the Year: Loans’.
“Our journey of excellence continues, and we are excited about the future. We owe this success to our team and partners, and we look forward to more milestones together,” it said.
