Not compliant
Oando does not pass Shariah screening under the AAOIFI Standard.
NGX: OANDO · Oil & Gas · Screened 20 Aug 2026 · H1 2026 accounts
Oando Plc is a Nigerian energy group whose activities span upstream exploration and production through Oando Energy Resources Inc. and the supply and trading of crude, refined and unrefined petroleum products through Oando Trading in Dubai and Bermuda. It also holds investments in bitumen and mining infrastructure development. The group reports four operating segments: exploration and production; supply and trading; mining and infrastructure development; and corporate and others. Supply and trading generates the majority of revenue.
For the year ended 31 December 2024, revenue was N4.09 trillion, up from N2.85 trillion, with net profit of N220.1 billion against a prior-year loss.
In August 2024, Oando completed the $783 million acquisition of the Nigerian Agip Oil Company (NAOC) from Eni, which increased its participating interest in OMLs 60 to 63 from 20% to 40% and secured operatorship of the joint venture assets. The acquisition contributed to upstream production rising 32% in 2025 to an average of 32,482 boepd, marking the first full year of operational execution following the integration of the acquired assets. For the 2025 financial year, revenue declined 22.2% to N3.18 trillion, while profit after tax came in at N204.8 billion.
Four segments: exploration and production; supply and trading; mining and infrastructure development; corporate and others. Supply and trading is the largest revenue contributor.
No. As of 20 August 2026, Oando (OANDO) does not pass Shariah screening under the AAOIFI Standard.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.