KEY POINTS
- Oando Mining is looking for lithium all over Nigeria more than before.
- Wale Tinubu is in charge of Oando’s growth into areas other than oil and gas.
- During the global energy shift, Oando Mining makes the chances of growth higher.
Oando Plc, which is managed by CEO Wale Tinubu, is diversifying away from oil. The Nigerian energy behemoth, which used to be known for trading oil, is now expanding into mining because it sees long-term value in crucial minerals like lithium.
Oando Mining, the business’s new subsidiary, has launched large-scale exploration all over Nigeria. This puts the company at the top of Africa’s mineral supply chain for clean energy industries.
Lithium fuels Oando’s plan to diversify its company
Oando Mining’s most recent filings show that the business has employed competent Nigerian geologists to conduct numerous lithium exploration programs, including a big one in Kebbi State. The company intends to finish field assessments by the end of 2025 and commence pilot-scale production not long after that.
Electric automobiles and renewable batteries have made lithium one of the most sought-after metals in the world. Oando’s debut into the field is a daring move toward minerals that aid with the energy shift.
According to Billionaires Africa, The company is also hunting for tin and bitumen resources, and early samples show that there are good deposits there. Oando is in talks with a Canadian partner to bring in technical know-how and money for its bitumen operations.
Oando changes its trading concentrate to crude oil and gas
The company’s mining development is happening at the same time as a strategic shift in its primary oil business. After Nigeria’s supply of gasoline from the Dangote Refinery grew better, Oando has reduced back on gasoline trade. The corporation is currently focusing on higher-margin exports of crude oil, gas, and metals.
CEO Tinubu said that Oando’s new financial strategy is based on off-take-linked structures that help cash flow and reach people all over the world. Sales dropped by 20% to ₦2.54 trillion in the first nine months of 2025, but net profit rose by 164% to ₦210 billion because production was more efficient and assets were recovered.
Oando’s total assets grew to ₦6.77 trillion, making it a more powerful and diverse energy and resources company. Tinubu’s move from oil to mining shows that he has a long-term plan to find new value in Africa’s resource frontier.
