Wale Tinubu, Group Chief Executive Officer, Oando Plc., a Pan-African multinational energy corporation, has proven to be one business magnate with outstanding survival instinct and outstanding ability to rebound regardless the hurdles.
Recently, he concluded a $210million recapitalization of Oando Downstream by HV Investments; a joint venture owned by Helios Investments Partners, a premier Africa focused private investment firm and the Vitol Group (“Vitol”), the world’s largest independent trader of energy commodities.
And he has succeeded in rewriting the story of Oando, leaving many of his competitors in wonderment.
This may not come as a surprise to those close to him because he has, over the years, shown evidence that he understands the oil and gas business terrain very well; and like a gambler, he knows when to throw the dice and even reinvent in a shaky business environment.
Even at the company’s 38th annual AGM, 2015, the man with vast knowledge in the sector assured shareholders that the company would rebound to profitability in 2016 and continually creates value for shareholders. True to his words, the company declared N4.1billion profit after tax in the first quarter of 2016.
Wale Tinubu’s continued success is worthy of emulation by entrepreneurs and prospects especially in Nigeria’s inclement business environment.