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Oando Records 164% Increase in Financials: Posts ₦210bn Profit in Nine Months

Source: APO


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Oando PLC (https://OandoPLC.com/), Nigeria’s leading indigenous energy group listed on both the Nigerian Exchange and Johannesburg Stock Exchange, has announced its unaudited results for the nine months ended September 30, 2025, reflecting production growth, and disciplined execution.

The Group delivered a Profit After Tax of ₦210 billion, a 164% increase from ₦76 billion in the same period of 2024, a performance driven by stronger production volumes, and operational efficiency. While Group revenue declined by 20% year-on-year to ₦2.5 trillion from ₦3.2 trillion in 2024, this was primarily due to reduced gasoline imports following the ramp-up of the Dangote Refinery, a development that has reshaped Nigeria’s refined-product market for good. Gross profit stood at ₦113 billion, representing a 42% decline and reflecting shifts in market dynamics and the Group’s evolving segment mix.

Commenting on the results, Wale Tinubu, CON, Group Chief Executive, Oando PLC, stated:

“In the first nine months of 2025, we consolidated the gains achieved following our acquisition of NAOC’s assets last year. Our assumption of operatorship has been transformational, granting us the agility to act decisively and execute with precision in driving production growth and operational efficiency.”

He added that the Group achieved a 59% year-on-year increase in crude oil and gas production, now averaging 38,121 boepd, underscoring the impact of the NAOC acquisition and clear evidence of the beginning of the dawn of unlocking the tremendous value its reserves possess.

During the period the company reported a surge in oil and gas output and continued operational gains, signaling strong momentum across its upstream operations for the nine months ended September 30, 2025.

To sustain its growth drive, Oando upsized its Reserve-Based Lending (RBL 2) facility to $375 million, strengthening its financial flexibility and supporting the accelerated development of its 1 billion barrels of oil equivalent (boe) upstream portfolio. The company also renegotiated key credit facilities on more favorable terms, extending repayment periods to free up liquidity and fund its ongoing drilling programme.

The indigenous energy giant said group production averaged 38,121 barrels of oil equivalent per day (boepd), up 59% year-on-year, in line with its full-year guidance. The performance was driven by the consolidation of its Nigerian Agip Oil Company (NAOC) joint venture interest and improved asset uptime across its operated portfolio. Oando noted that the revamp of its NGL processing plant played a key role in the improved performance, delivering 82% operational uptime and boosting recovery and reliability across production assets. The company also completed the Obiafu-44 gas-condensate well, which was brought onstream in October, and advanced surface facility upgrades to minimize downtime and enhance flow efficiency.

In a bid to expand its regional and global footprint, the company was awarded operatorship of Block KON 13 in Angola, marking its strategic entry into the Kwanza Basin and was selected as the preferred bidder for the Guaracara Refinery in Trinidad & Tobago, signaling its entry into the Caribbean downstream market.

In the downstream, Oando’s trading subsidiary lifted 21 crude cargoes (19.8 MMbbl), up from 15 cargoes (16.7 MMbbl) in the same period last year, following a deliberate strategic pause as the Division rebalanced its portfolio towards higher-margin crude and gas trading opportunities.

With output rising and new international assets in play, analysts say Oando appears firmly on track to consolidate its leadership among Africa’s indigenous oil and gas players, even as it continues to pursue diversification into clean energy and mining ventures.

In its clean energy division, the company advanced its electric mobility, solar, and recycling initiatives, progressing development of a 1.2GW solar PV assembly plant, completing a techno-economic study for a 6MW geothermal pilot, and securing land for a 2,750-ton-per-month PET recycling facility.

Oando’s performance reflects a period of strategic transition, marked by strong profitability and upstream growth despite softer trading revenues. In the same stead, sector peers such as Aradel Holdings Plc and Seplat Energy Plc reported higher top-line growth, benefiting from more stable upstream portfolios and consistent production trends.

Aradel Holdings posted ₦368.1 billion in revenue, up 37.2% year-on-year, and ₦146.4 billion in Profit After Tax, reflecting stable production and improved operational efficiency. Similarly, Seplat Energy reported sustained revenue growth and double-digit margins in its half-year results, supported by steady production and a robust gas business.

During the review period, Mrs. Folashade Ibidapo-Obe was appointed Chief Compliance Officer and Company Secretary, reinforcing Oando’s governance and compliance framework.

The company also completed the first tranche of its 1.28 billion-share distribution programme, delivering a 5.33% dividend yield to shareholders, its first direct payout in years, as part of a broader plan to restore sustainable shareholder returns.

Looking ahead, Oando maintains its full-year production guidance of circa 40,000 boepd, with capital expenditure projected at $120–130 million, focused on drilling, infrastructure optimization, and ESG projects.

Tinubu concluded:

“As we enter the final quarter of 2025, we remain focused on further strengthening our balance sheet, accelerating production growth, expanding our trading footprint, optimizing our cash flows, and sustaining long-term value creation.”

Distributed by APO Group on behalf of Oando PLC.

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South Africa concludes a “very successful” State Visit to Switzerland

Source: Government of South Africa

By Dikeledi Molobela

Schloss Hauptwil, Switzerland – International Relations and Cooperation Minister Ronald Lamola has described President Cyril Ramaphosa’s State Visit to Switzerland as “a resounding success” that deepened political, economic, and developmental ties between the two nations.

Speaking to SAnews in Schloss Hauptwil, a centuries-old castle nestled in the Thurgau region, Minister Lamola reflected on the significance of the visit. 

The elegant estate, known for its tranquil gardens and timeless architecture, provided a dignified and intimate setting for a lunch hosted by local authorities in honour of President Ramaphosa and Swiss President Karin Keller-Sutter. 

Minister Lamola said the visit had marked a historic milestone in South Africa–Switzerland relations. 

“We have just concluded a very successful state visit to Switzerland the first between South Africa and Switzerland by a State President from South Africa. 

“The first one we had here was a working visit by our former President Mandela. But the Swiss have elevated this to a much higher pedestal to show and deepen our political and economic relationship,” he said. 

The Minister noted that discussions between the two countries covered a wide range of areas from peacebuilding and mediation to collaboration in multilateral platforms and trade.

“They are very keen to work with us on peacebuilding initiatives, mediation, and also on our work in the continent and in various multilateral platforms. In terms of the economy, they have brought leading Swiss companies, some already active in South Africa, while others are exploring opportunities to invest. There is huge space for collaboration and investment by Swiss companies, with a clear intention to build manufacturing plants and to develop skills in South Africa,” the Minister said. 

Lamola highlighted that one of the most valuable lessons from the visit was Switzerland’s dual education system, a model that merges theoretical learning with practical experience. 

“The Swiss education system is a dual education system which enables young people, from the age of 15, to learn both theory and practice. They call it ‘where practice and theory meet.’ It is a very encouraging and stimulating system that produces highly skilled artisans from boiler makers to mechanics and other trades that every growing economy needs, including ours,” he explained.

The Minister said the South African delegation which included the Ministers of Higher Education Buti Manamela, and Science and Technology, Blade Nzimande was inspired by the potential to adapt this approach to help tackle youth unemployment and boost industrial growth.

“This visit has really inspired all of us, including our President. We will now move to implement this in our country, in collaboration with industries, to strengthen skills development and respond to our unemployment challenges. 

“It’s clear that we need a radical shift in how we skill our young people to integrate them early into economic life and ensure they contribute meaningfully to our society. This was a very good visit in that regard, because we will now move to implement and ensure that practice meets theory,” he said. 

The State Visit, which included engagements at the Vocational and Further Education Centre in Wil-Uzwil and the Bühler AG Manufacturing Facility, aimed to strengthen cooperation in education, trade, and industrial development marking a new era in the partnership between South Africa and Switzerland. – SAnews.gov.za 

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President Ramaphosa praises Swiss Dual Education System as a model for SA

Source: Government of South Africa

By Dikeledi Molobela 

Uzwil, Switzerland – President Cyril Ramaphosa has described Switzerland’s dual education system as “hugely impressive” and a model that could help ignite a skills revolution in South Africa.

Speaking during a media doorstop in Uzwil on Wednesday, during his two-day State Visit to the country, President Ramaphosa said his visit was motivated by a desire to learn firsthand how Switzerland integrates academic learning with practical training.

“Everything about the dual education system that we’re being exposed to here is so hugely impressive. It would, in many ways, when implemented in South Africa, lead to the type of skills revolution that we’ve been talking about the need to train young people in real skills, not just classroom education, but skills that are needed in the economy and in industry,” the President said. 

President Ramaphosa and Swiss President Karin Keller-Sutter visited the BZWU Uzwil Vocational and Further Education Training Centre and interacted with students and teachers. 

The two Presidents visited the school to highlight vocational education and training, which supports a youth cooperation aimed at building skills for the modern economy. 

The vocational school offers dual education and apprenticeship programs with hands-on workshops, specialised training rooms, and open learning spaces that promote practical, connected learning. 

During a guided tour of the facility, President Ramaphosa interacted with students and teachers who showcased the hands-on nature of Switzerland’s education model. 

The President was visibly impressed as he observed learners demonstrating their trade skills.

In one section, automotive mechatronic apprentices dismantled a wheel, removed and mounted a tyre, balanced it, and refitted it, all under the watchful eyes of their instructors.

In another, road specialist apprentices were tasked with securing a barrel using proper lashing techniques and testing their devices under tensile conditions to ensure occupational safety.

The demonstrations highlighted how theory and practice are seamlessly combined to prepare students for the workplace from a young age.

President Ramaphosa said this approach could help South Africa address one of its most pressing challenges, youth unemployment.

“I have seen how it’s being done here, being done to good effect at the top level. Young people, as young as 15, are already so well adept with the way of the industrial work world and that is exactly what we need as we seek to grow our economy, to improve employment, and to industrialise,” the President said. 

He noted that many South African graduates struggle to find work due to a lack of practical experience. The dual education model, he said, bridges that gap by combining classroom learning with workplace exposure.

The President told SAnews that the country could benefit greatly from adopting a similar dual-track education approach.

“This, to us, has been a great inspiration in terms of how we can do it. It is the dual education system, a skills development system. It’s a two-track model where you do the academic as you do the practical at the same time, and the two should be complementary,” the President explained. 

President Ramaphosa said the Swiss example reinforced his vision of transforming South Africa’s education and training landscape to better align with industry needs.

Following the tour, President Ramaphosa and President Keller-Sutter proceeded to the Bühler AG Manufacturing Facility and apprenticeship centre in Uzwil.

There, President Ramaphosa had an opportunity to interact virtually with young South Africans currently working at Bühler’s operations in South Africa. The young professionals joined the meeting online and shared with the President insights into their daily work and experiences at the company.

Their participation highlighted the tangible links already being built between South Africa and Switzerland in the areas of skills development and industrial training, an exchange the President said he hopes to see grow even further.

The visit forms part of President Ramaphosa’s State Visit to Switzerland, aimed at strengthening political, economic, and social ties between the two countries while exploring models for inclusive and sustainable growth. – SAnews.gov.za 

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FAO and RUFORUM Renew Partnership for Agricultural Education & Innovation in Africa

Source: APO


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The Food and Agriculture Organization of the United Nations (FAO) and the Regional Universities Forum for Capacity Building in Agriculture (RUFORUM) have renewed their partnership through the signing of a new Memorandum of Understanding (MoU) during a virtual ceremony attended by senior officials from both institutions.

The renewed five-year collaboration reaffirms FAO and RUFORUM’s shared commitment to advancing higher agricultural education, research, and innovation across Africa to accelerate the transformation of agrifood systems. The partnership aims to strengthen institutional and technical capacities, promote knowledge exchange, and foster innovation for sustainable and climate-resilient food systems.

Speaking at the ceremony, Abebe Haile-Gabriel, FAO Assistant Director-General and Regional Representative for Africa, highlighted that the renewed partnership underscores the vital role of academia in driving Africa’s agricultural transformation. FAO’s collaboration is aligned to the FAO Strategic Framework 2022-2031 and its Four Betters – better production, better nutrition, a better environment, and a better life, leaving no one behind.

Professor Patrick Okori, RUFORUM Executive Secretary, welcomed the renewed collaboration, emphasizing that FAO’s technical expertise combined with RUFORUM’s vast academic network of 175 universities in 40 countries provides a strong platform to nurture innovation, empower youth, and build resilient rural economies.

Under the new agreement FAO and RUFORUM will work together to:

  • facilitate South–South and Triangular Cooperation (SSTC) and promote joint resource mobilization;
  • advance knowledge generation and dissemination on food security, nutrition, and sustainable agriculture; and
  • strengthen strategic alliances and policy dialogues for agrifood systems transformation in line with the African Union’s Comprehensive Africa Agriculture Development Programme (CAADP) and the 2030 Agenda for Sustainable Development. 

This partnership aligns with FAO’s Strategic Framework 2022–2031 and RUFORUM’s Vision 2030, reinforcing the joint mission to equip the next generation of African scientists, researchers, and policymakers with the skills and tools needed to transform agrifood systems for a sustainable future.

Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.

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Qatar, UNFPA Discuss Cooperation to Advance Sustainable Development Goals

Source: Government of Qatar

New York, October 30, 2025

HE Permanent Representative of the State of Qatar to the United Nations Sheikha Alya Ahmed bin Saif Al-Thani met with HE Executive Director of the United Nations Population Fund (UNFPA) Diene Keita.

They discussed areas of cooperation between the State of Qatar and UNFPA to support international efforts aimed at achieving the Sustainable Development Goals. 

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Qatar, UN Explore Joint Efforts to Safeguard Children in Conflict Zones

Source: Government of Qatar

New York, October 30, 2025

HE Permanent Representative of the State of Qatar to the United Nations Sheikha Alya Ahmed bin Saif Al-Thani met with HE UN Under-Secretary-General and Special Representative of the Secretary-General for Children and Armed Conflict, Vanessa Frazier, at the headquarters of the Permanent Mission in New York.

Discussions during the meeting focused on enhancing cooperation between the State of Qatar and the Office of the Special Representative in the field of protecting children affected by armed conflict. The two sides also reviewed ways to support joint initiatives aimed at ensuring a safer and more stable environment for children worldwide.

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Prime Minister and Minister of Foreign Affairs Receives Phone Call from US Secretary of State

Source: Government of Qatar

Doha | October 30, 2025

HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani received Thursday a phone call from HE Secretary of State of the United States of America Marco Rubio.
During the call, the two sides discussed the close strategic relations between the State of Qatar and the United States and ways to support and enhance them.
They also exchanged views on the latest developments in the Gaza Strip and the occupied Palestinian territories, in light of the ceasefire agreement in the Strip, in addition to a number of issues of mutual interest.
HE the Prime Minister and Minister of Foreign Affairs stressed, during the call, the importance of concerted regional and international efforts to ensure the full implementation of the agreement, paving the way toward achieving sustainable peace and the desired stability in the region.

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Qatar Participates in Conference on Peace and Prosperity for the Great Lakes Region

Source: Government of Qatar

Paris, October 30, 2025

The State of Qatar participated Thursday in the Conference on Peace and Prosperity for the Great Lakes Region, held in Paris.
Qatar was represented at the conference by HE Minister of State at the Ministry of Foreign Affairs Dr. Mohammed bin Abdulaziz bin Saleh Al Khulaifi.
In his address to the conference, His Excellency stated that over the past year, the State of Qatar has worked closely with regional and international partners to assist parties in the Great Lakes region in transitioning from confrontation to dialogue.
He added that, based on the understandings reached in Washington in June 2025, the Doha Declaration of Principles, signed on July 19, 2025, laid a solid foundation for continued engagement and confidence-building between the Government of the Democratic Republic of the Congo and the Congo River Alliance (March 23 Movement).
As they speak, and thanks to Qatar’s facilitation and close coordination with its partners, His Excellency continued, the parties are now working toward a framework peace agreement that would reinforce the ceasefire, ensure humanitarian access, and pave the way for a comprehensive and lasting settlement.
He explained that, alongside its diplomatic efforts, Qatar has provided humanitarian assistance to support emergency relief operations and meet the urgent needs of vulnerable communities affected by the conflict.
In parallel, he added, through the Qatar Fund for Development (QFFD) and in partnership with UNICEF and its international partners, Qatar has allocated USD 25 million to expand education and child protection programs in conflict-affected areas of the Democratic Republic of the Congo.
His Excellency noted that these initiatives aim to restore hope for thousands of children, strengthen local resilience, and ensure that the fruits of peace are reflected both in classrooms and communities.
He emphasized that these combined efforts reflect Qatar’s firm belief that peace must be sustained through tangible improvements in the daily lives of those it seeks to protect.
His Excellency underscored that humanitarian diplomacy lies at the heart of Qatar’s foreign policy, affirming that the State continues to work with international and local partners across various regions to deliver life-saving assistance, protect civilians, and support access to education, healthcare, and human dignity for all those affected by conflict.
He confirmed that Qatar’s approach is guided by a simple yet profound conviction, that every step toward peace must begin with a commitment to alleviating human suffering. Therefore, the State of Qatar will remain a genuine and reliable partner, working side by side with France, Togo, the African Union, the United States, and all Qatar’s international partners to help the Great Lakes region transition from fragility to stability, and from crisis to a just and lasting peace. 

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Egypt: President El-Sisi Meets President of Eritrea Afwerki

Source: APO – Report:

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Today, President Abdel Fattah El-Sisi received President of Eritrea, Isaias Afwerki. The meeting was attended by Minister of Foreign Affairs, Emigration, and Egyptian Expatriates, Dr. Badr Abdel-Atty, and Eritrean Minister of Foreign Affairs, Mr. Osman Saleh Mohammed.

The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said that commencing the meeting, President El-Sisi welcomed President Afwerki, lauding his visit to Egypt and his participation in the inauguration ceremony of the Grand Egyptian Museum.

President El-Sisi emphasized Egypt’s pride in the deep-rooted strategic relations with Eritrea. The President underscored his keenness on strengthening bilateral cooperation in various fields, particularly in the economic and investment sectors, in a way that supports President Afwerki’s efforts to advance national development, and aligns with what was agreed upon during President El-Sisi’s historic visit to the Eritrean capital, Asmara, in October 2024.

During the meeting, the two Presidents exchanged views on regional developments. President El-Sisi reiterated Egypt’s firm commitment to supporting Eritrea’s sovereignty and territorial integrity.
For his part, President Afwerki expressed his deep appreciation for Egypt’s role, led by President El-Sisi, in consolidating stability and advancing development efforts in the Horn of Africa and East Africa region. He welcomed the expansion of economic cooperation with Egypt and the strengthening of bilateral coordination with regard to international and regional issues of mutual interest.

President El-Sisi and President Afwerki also focused on developments in the Horn of Africa region. They affirmed the convergence of views between the two countries on ways to end the war in Sudan. President El-Sisi and the Eritrean President stressed the necessity to support national state institutions, first and foremost the Sudanese Armed Forces, and to reject any attempts to establish parallel entities.

In this context, President El-Sisi highlighted Egypt’s efforts within the framework of the Quartet Mechanism, with seeks to end the war and alleviate the humanitarian suffering of the Sudanese people. The President emphasized Egypt’s commitment to working with the partners to ensure Sudan’s unity, territorial integrity, and the preservation of its national sovereignty.

The meeting also addressed the latest developments in Somalia. The two Presidents reaffirmed their countries’ commitment to what was stated in the Joint Trilateral Statement issued during the Summit between the leaders of Egypt, Eritrea, and Somalia in Asmara, October 2024. The statement underscored the need to respect the fundamental principles of international law, particularly the sovereignty, independence, and territorial integrity of Somalia and all countries in the region.

The two leaders also emphasized the importance of coordinating joint efforts to achieve regional stability and strengthen the capabilities of Somali state institutions to confront internal and external challenges. They also reiterated the importance of enhancing cooperation to ensure the security of the Red Sea, and preventing any impact on navigation in this vital waterway. The President stressed the necessity to intensify coordination between Egypt and Eritrea, as well as with the neighboring Arab and African countries, to contribute to consolidating security and stability in this important region.

– on behalf of Presidency of the Arab Republic of Egypt.

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Suriname Business Forum Joins Caribbean Energy Week 2026 as Strategic Partner

Source: APO – Report:

The Suriname Business Forum (SBF), a leading advocate for private sector growth in Suriname, has partnered with Caribbean Energy Week (CEW), the premier regional energy conference connecting stakeholders across the Caribbean and the Americas.

The Suriname Business Forum (SBF), established in 2007, serves as a national platform for formulating, implementing and monitoring Suriname’s strategy for local private sector development. Composed of representatives from key ministries, business associations, academia and labor unions, SBF fosters collaboration between the public and private sectors to improve the country’s business climate and advance economic growth. Through initiatives such as the Suriname Business Development Center, the forum works to strengthen entrepreneurship, enhance trade and support job creation in line with emerging opportunities from international investment and the growth of Suriname’s oil and gas sector.

SBF’s partnership with CEW 2026 reflects both organizations’ shared commitment to fostering local content and ensuring that Suriname’s oil and gas boom delivers tangible benefits for the nation’s workforce, businesses and communities. President Geerlings-Simons has stated that Suriname will launch a National Local Content Program in 2026, designed to engage people and businesses directly in the emerging oil and gas industry through measures such as local hiring requirements, regional training and financing hubs and other legislative initiatives.

“Through our partnership with the Suriname Business Forum, Caribbean Energy Week is proud to offer SBF members direct access to international investors, policymakers and energy leaders,” says Sandra Jeque, International Conference Director at Energy Capital & Power. “This collaboration not only strengthens the dialogue between local and global stakeholders but also provides actionable insights and networking opportunities that will empower Surinamese businesses to play a meaningful role in shaping the country’s emerging oil and gas sector.”

As a partner of Caribbean Energy Week, SBF will serve as a bridge linking Surinamese businesses with regional and international players shaping the Caribbean’s energy landscape. The collaboration highlights Suriname’s growing private sector and will create opportunities for knowledge exchange, visibility and engagement across key discussions on investment, local content and economic development.

Taking place under the theme Leveraging Energy Diversity Across the Caribbean, CEW – taking place on March 30-April 1, 2026 in Paramaribo – will convene industry leaders, policymakers, investors and innovators to explore energy sector growth, investment opportunities and regional collaboration.

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.

– on behalf of Energy Capital & Power.

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