Oando spent N1.151 billion on charitable contributions in 2024

Oando Plc in its recent audited financial report announced that it invested N1.151 billion in charitable initiatives in 2024.

The company said it made these contributions through its subsidiary, Oando Foundation, which implemented several programmes focused on education, environmental sustainability and community development, amongst others.

The company said it deployed the fourth phase of the Clean Our World (COW) project, strengthening environmental education and recyclable waste management in 50 public primary schools in Lagos State and 20 public primary schools in Plateau State, amounting to N99 million (N99,015,719). It also spent N26.3 million (N26,321,000) to implement the Learnovate Supporting Early-childhood Education and Development (LEARNOVATE-SEED) project, upgrading and equipping Early Childcare Centers in 10 public primary schools in Jos, Plateau State where fifty-seven teachers and caregivers were trained.

It also invested in pre-implementation activities for the Oando Foundation/Lagos State Universal Basic Education Board joint initiative – “Project Zero”, aimed at mobilising 150,000 out-of-school children from the streets into formal school, with N28,872,259 allocated.

Additionally, Oando invested N15.1 million (N15,177,800) in rehabilitating one ICT Center and upgrading one early childcare centre at Dele-Ajomale Primary School, Ilasamaja, Lagos State, to enhance learning achievements. The company also funded scholarships for 15 pupils to further their secondary education across four states and supported four university scholarship beneficiaries with N1.24 million.

Other initiatives included a partnership with Teach For Nigeria’s 2024 Incubation Hub Program, where a seed grant was awarded to a top-performing social innovator to scale a climate-smart initiative, upcycling plastic waste to instructional materials for public schools, with N2.5 million allocated.

Oando said it invested N1.71 million to co-sponsorship the 2024 World Environment Day event organised in partnership with the Federal Ministry of Environment, Oxfam Nigeria, and the European Union to promote environmental awareness and advocacy.

“Co-sponsorship of the 2024 National Basic Education in Nigeria – Bootcamp (BEN-B) Summit to advance basic education reform and policy implementation in Nigeria with N2 million and the 2024 Africa Social Impact Summit (ASIS) to drive sustainable development efforts on the African continent with N5 million,” it said.

The company contributed N2 million to promote inclusive education and gender equity in Nigeria and invested N169.9 million in infrastructure upgrades at Family Support Programme (FSP) Nursery and Primary schools, Katsina and Daura, Katsina State.

Other Corporate Social Responsibility CSR include the company’s donation to the American Society of Safety Professionals (ASSP), amounting to N687,232, sponsorship of the 2024 Africa Energy Week Side Event with N98.5 million (N98,566,197).

Beyond the corporate world, Oando also showed its appreciation for cultural heritage by sponsoring Alake of Egbaland’s 80th Birthday Golf Tournament with N27,083,944, invested N337,205,401 in sponsoring the Nigeria Oil and Gas Conference & Exhibition 2024 and also invested N11,998,209 in sponsoring the 2024 Lakowe Lakes Golf Club championship.

Additionally, Oando sponsored the 2024 Nigerian Annual International Conference & Exhibition with N13,298,756. Oando’s involvement in the energy sector is further demonstrated by its bronze sponsorship of the sixth edition Nigeria International Energy Summit 2024, with a contribution of N60,637,212.

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The company also supported STEM Africa Fest 2024 with N4,736,221, invested N500,000 in sponsoring the Recyclers Association of Nigeria (RAN) Conference (South West Region) and a total of N15,765,675 to sponsor Motorsport.

The company said it supported the Transformational Governance Corporate Toolkit Launch 2024 by Global Compact Network Nigeria Limited with N3,517,500 and sponsors the 2024 Nigeria Bar Association Lagos Event with N1 million. Lastly, the gold Sponsorship for the 2024 Afreximbank annual meetings with N222, 100, 650.

Oando Trading Limited is an oil trading company that supplies petroleum products to customers in the West African market, as well as coastal markets across Africa and internationally.