Oando Invests $150m In New Office Complex

The Group Chief Executive Officer Oando Plc, Mr. Wale Tinubu, has said that the company invested $150 million in the construction and finishing of its twin-tower corporate head office.
Tinubu, who disclosed this in Lagos, Thursday, during the inauguration of the office complex, said that the company was able to carry out the investment in Nigeria based on the belief of its management in the Nigerian project, inspite of the challenges faced by the oil and gas industry.
“The site used for this edifice was earlier planned for a mega filling station. We were affected by the crash of crude oil price.
“We were also affected by the 60 per cent devaluation and despite this challenges we invested with our bankers on this project. Work started here in 2014 and was completed in 2017,” he said.
According to him, the twin-tower edifice strategically located at Ozumba Mbadiwe Road, Victoria Island, would serve as the corporate Island, would serve as the corporate head office for the oil and gas conglomerate.
He said the new multi-billion naira office complex called “The Wings” in Victoria Island, Lagos, is a huge investment made by the indigenous company in the oil and gas industry, and would bring great success, progress and achievement to the company.
For many years, Oando Plc had operated from Femi Otedola’s Zenon building in Ajose Adeogun street in Victoria Island, and on December 4th,2017, the company began relocation to the new office complex.