Oando Plc has been named the recipient of the Oil and Gas Deal of the Year, Africa, at the 2025 IJGlobal Investor Awards, in recognition of its landmark acquisition of the Nigerian Agip Oil Company Limited (NAOC) from Italian energy giant Eni.
The deal is widely regarded as one of the most significant upstream M&A transactions in Nigeria in recent years.
The award, announced at IJGlobal’s annual ceremony, followed an independent evaluation by senior international energy and infrastructure finance professionals, who assessed transactions based on innovation, execution strength, and sector-wide impact.
IJGlobal, a global authority on energy and infrastructure finance, organises the awards to celebrate outstanding project finance, corporate finance, and M&A deals worldwide.
Past recipients include leading investors, energy majors, and top-tier financial institutions.
Reacting to the recognition, Oando’s Chief Legal Officer, Efuntomi Akpeneye, highlighted the discipline and rigor involved in completing the acquisition:
“Our mandate was clear: deliver a structure that protects the company, strengthens our long-term position, and aligns with global standards for complex M&As.”
This deal demanded rigorous due diligence, precise risk management, and a firm understanding of the regulatory landscape.
The recognition validates the quality of work done and reinforces our commitment to executing transactions that reshape Oando’s strategic trajectory.”
The NAOC acquisition significantly expanded Oando’s operated asset base, increased its reserve capacity, and solidified its position as a leading indigenous energy player in Nigeria.
Beyond its commercial scale, the transaction required detailed technical, legal, and regulatory structuring due to the complexity and legacy nature of the assets.
Coordination with multiple regulatory agencies, comprehensive due diligence, and careful risk management were central to ensuring continuity, compliance, and value preservation.
Oando stated that the award further strengthens its profile as a strategic consolidator in Nigeria’s energy sector, aligning with the company’s vision to build a resilient, future-ready energy business capable of meeting Africa’s growing energy demand while adhering to global sustainability standards.
The deal is expected to drive indigenous participation, asset control, and future investment flows into Nigeria’s upstream oil and gas sector.
