Oando, a company owned by Wale Tinubu, a brother to President Bola Ahmed Tinubu has hit an all time milestone of N3trillion turnover and a N60.3 billion profit after tax according to its latest financial audit.
The company which has, prior to the emergence or President Tinubu, recorded losses in the previous year, witnessed sudden surge in activities and revenue.
The report showed that the company recorded a 43 per cent increase turnover, generating N2.9 trillion in the financial year ended, 2023 compared to the N1.9 trillion recorded the same period in 2022.
Recall that there have been rumours of favouritism for OANDO company in the oil and gas sector, under President Tinubu.
The surge in profit and turnover are believed in some quarters as results of that favouritism the company is believed to be enjoying under President Ahmed Bola Tinubu.