Oando PLC (referred to as “Oando” or the “Company”), Nigeria’s leading indigenous energy group listed on both the Nigerian Exchange Limited (NGX) and Johannesburg Stock Exchange (JSE Limited), wishes to inform its shareholders and the public that, in accordance with Rule 1.1.4 of the NGX Rulebook on the Filing of Accounts and Treatment of Default Filing, the Company anticipates being unable to publish its 2025 Audited Financial Statements (2025 AFS) by the regulatory deadline of March 31, 2026. The Company now expects to complete and file the 2025 AFS on or before May 30, 2026.
The delay is principally due to the ongoing migration and integration of the Company’s legacy Enterprise Resource Planning (ERP) systems, with the system inherited as part of its recent Nigerian Agip Oil Company Limited (NAOC) acquisition. This system integration process has necessitated extensive testing, alignment of accounting policies, harmonization of reporting frameworks, and comprehensive mapping and consolidation of charts of accounts to ensure consistency, accuracy, and compliance with applicable financial reporting standards.
We do not expect the delay to exceed forty-five (45) days from the original filing deadline, after which the 2025 AFS will be presented to the Board for approval and subsequently submitted to the Financial Reporting Council of Nigeria (FRC) for regulatory clearance prior to public release.
As we will be unable to file the Unaudited Financial Statements for the quarter ended 30 March 2026 (2026 Q1 UFS) prior to the publication of the 2025 AFS, we expect that both the 2026 Q1 UFS and the 2025 AFS will be filed on or before 30 May 2026.
The Company remains firmly committed to the highest standards of financial reporting integrity, transparency and timely disclosure in compliance with the Listing Rules of NGX.
We sincerely regret any inconvenience this delay may cause and appreciate the understanding and continued support of our stakeholders.
