Oando Nigerian oil company opens up on 171.32bn loss

The oil company became the subject of discourse shortly after it released the Q12015 on Friday, October 23, 2015 saying the company suffered 171.32Billion Naira Loss in 2014.

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Wale Tinubu, the group Chief Executive of Oando PLC play

Wale Tinubu, the group Chief Executive of Oando PLC

(businessnews)
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One of the major players in the Nigerian oil sector, Oando Plc has opened up on its 2014 loss after the global crash of oil prices.

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The oil company became the subject of discourse shortly after it released the Q12015 on Friday, October 23, 2015 saying the company suffered 171.32Billion Naira Loss in 2014.

Oando Oil's Managing Director Wale Tinubu attends an Oil and Gas conference in Nigeria's capital Abuja February 21, 2012. REUTERS/Afolabi Sotunde play Oando Oil's Managing Director Wale Tinubu attends an Oil and Gas conference in Nigeria's capital Abuja February 21, 2012. REUTERS/Afolabi Sotunde

 

Furthermore, the oil company also revealed a 271billion Naira in administrative expenses amongst other intriguing numbers.

Watch an analysis by financial experts here

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