Tinubu’s Oando Makes Final Cut in Bid for Trinidad’s Petrotrin Refinery
By Lawrence Bilal Audu
Nigeria’s Oando Plc, led by Wale Tinubu, nephew of President Bola Ahmed Tinubu, has been shortlisted as one of the final bidders to acquire Trinidad and Tobago’s state-owned refinery, Petrotrin.
Wale Tinubu has guided Oando Plc’s growth into one of Africa’s largest integrated energy solutions providers. If Oando succeeds in acquiring Petrotrin, it would be a significant strategic move, expanding its international footprint and potentially tackling some of the challenges in Nigeria’s oil and gas sector.
Oando Plc is competing with two other finalists: CRO Consortium, a Trinidadian group of companies, and INCA Energy, an American firm. The Trinidadian Finance Minister, Colm Imbert, announced the shortlisted companies during the nation’s budget presentation.
Petrotrin has faced significant challenges, including losses of up to $2 billion per annum, leading to its closure in 2018. A successful bid by Oando could bring new life to the refinery and positively impact Nigeria’s energy landscape.