During the economic downturn, we grew & turned a profit because we took the right actions.
To navigate the downturn, we adopted a Growth Deleverage Profitability approach which focused on aggressively deleveraging our balance sheet, while focusing on our $ denominated businesses
To navigate the downturn, we adopted a Growth Deleverage Profitability approach which focused on aggressively deleveraging our balance sheet, while focusing on our $ denominated businesses
which are less affected by forex fluctuations. With a focus on our 5-point agenda, we have been able to successfully reduce debt from Debt profile reduced from N473billion FYE 2014, to N237bn in FYE 2017
We restructured our debt through a N94.6bn loan facility with a 5-year Nibor + 200bps loan led by Access Bank in a syndicate with 11 other banks. We completed a 60% divestment of our downstream operations to Helios and Vitol for US$210m,
completed a 75% sale of our Gas & Power business to Helios, and a 100% sale of our upstream servicing business, Oando Energy Services. #OandoAtNIPS.
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