Nigeria’s top fuel retailer and gas distributor Oando Plc has received shareholders’ approval to raise N200 billion ($1.34 billion) through debt and equity over the next two years to expand its business, Oando said on Monday.
Oando has been investing in oil exploration and production over the last few years to try and diversify its low-margin fuel retail business and take advantage of plans to deregulate the sector. Read the rest of this entry »
