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Oando Joint Venture Announces Gas Supply Agreement to Power Bayelsa’s 60MW Independent Power Supply
Oando PLC
(Incorporated in Nigeria and registered as an external company in
South Africa)
Registration number: RC 6474
(External company registration number 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or the "Company")
16 April, 2026
Lagos, Nigeria
Oando Joint Venture Announces Gas Supply Agreement to Power Bayelsa's 60MW
Independent Power Supply
Bayelsa, Nigeria, April 16, 2026– Oando PLC, Africa's leading indigenous energy solutions
provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange, is
pleased to announce that its upstream Joint Venture (JV) with NNPC E&P Limited (NEPL), the
NEPL/Oando JV, has enabled the delivery of a 60-megawatt (MW) Independent Power Plant (IPP)
in Yenagoa, Bayelsa State. The project, commissioned by His Excellency, President Bola Ahmed
Tinubu, GCFR, on Friday, April 10, 2026, forms part of the State's broader infrastructure
development programme.
The NEPL/Oando JV is the sole gas supplier to the plant, with a contracted volume of 11.2 million
standard cubic feet per day (11.2 MMSCFD). Gas is delivered via the JV's Elebele Valve Station,
interconnected with a major trunkline, ensuring an uninterrupted feedstock supply to the IPP. This
supply is underpinned by a long-term gas supply arrangement, providing a stable and predictable
revenue stream while supporting higher-value domestic gas monetization and diversifying the JV's
revenue base.
Commenting on the strategic significance of the project, Group Chief Executive, Oando PLC, Wale
Tinubu CON, said, "This project reflects our long-standing commitment to Bayelsa State and its
people. By enhancing power reliability, we are helping to unlock new opportunities for businesses,
improve living standards, and stimulate broader economic growth across the State. Our integrated
approach, connecting gas to demand and delivering stable energy where it is needed most,
ensures that development is both sustainable and inclusive. As one of the largest employers in
Bayelsa, we are proud to deepen our contribution to the State's progress."
The Bayelsa State IPP is expected to deliver stable electricity to tens of thousands of homes,
alongside commercial and industrial users in Yenagoa and its environs, reducing reliance on self-
generation and lowering end-user power costs.
The plant operates as a fully integrated system, combining gas supply, embedded generation, and
a ring-fenced distribution network. The project also demonstrates the potential for gas-to-power
developments across the JV's infrastructure footprint, reinforcing Oando's strategy to deepen
participation in Nigeria's domestic gas value chain. It further highlights public-private collaboration
as an effective model for infrastructure delivery, with scope for broader application across future
developments in Nigeria.
To support this integrated structure, Oando executed both the Front-End Engineering Design
(FEED) and Detailed Engineering Design (DED) for the tie-in connection infrastructure linking the
IPP to the JV's existing gas network, with advanced safety mechanisms in place to safeguard
connected assets. The JV also provided technical support during commissioning and gas
introduction.
Oando's participation in the Bayelsa State IPP, through gas supply, further underscores its
commitment to strengthening Nigeria's power sector. This builds on a proven track record of
delivering first-of-its-kind projects, including the development and operation of Nigeria's first
combined cycle power plant, the flagship Okpai Independent Power Plant, Akute Independent
Power Project in Ogun State, and the Alausa Independent Power Project in Ikeja, Lagos, one of
the earliest embedded generation projects in the country. These projects have improved grid
reliability and delivered stable, localized power within their host communities.
For further information, please contact:
Folasade Ibidapo-Obe
Company Secretary
The Wings Office Complex,
17A Ozumba Mbadiwe Avenue,
Victoria Island, Lagos, Nigeria.
Tel: +234 (1) 270400, Ext 6159
Email: fibidapo-obe@oandoplc.com
For: Oando PLC
Mrs. Folasade Ibidapo-Obe
Chief Compliance Officer & Company Secretary
JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited
Date: 16-04-2026 02:08:00
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